Tatarstan turns out ready for economic crisis better than other Russian regions

Tatarstan turns out ready for economic crisis better than other Russian regions
Photo: Maksim Platonov

Tatarstan is ready for crisis better in Russia

RAEX-Europe rating agency made up Russian regions’ ESG rating (Environmental, Social, Governance). This rating evaluates the readiness of the regions for the economic crisis caused by the spread of the coronavirus and the fall in oil prices. Tatarstan chaired the list, Moscow and Lipetsk Oblast are in the top 3.

The republic is 19th among the Russian regions in Environmental category, 12th in Social.

According to RAEX-Europe, Tatarstan chaired the list in quality of public administration in line with Moscow because of “high quality of public administration, due to the transparency of the government with high level of budget management”.

Kabardino-Balkaria, Tuva and Kalmykia are last in the Russian rating.

“Debt sustainability metrics will be only moderately affected”

It should be reminded that on 25 May Fitch Ratings international rating agency affirmed Tatarstan rating at ВВВ with a stable outlook.

  • The analysts stated that despite the forecasted fall in Russia’s GDP growth because of the coronavirus pandemic and the fall in oil prices, “debt sustainability metrics will be only moderately affected”.
  • Tatarstan recently was among the regions that could do without borrowings in 2020, according to Analytic Credit Rating Agency. Such regions total 28 in the Russian Federation. It is mainly production regions, industrial centres and regions with a relatively low debt burden.
  • In 2019, Tatarstan turned out fifth in RIA Novosti’s rating of social and economic development of regions. Tatarstan’s rating is 76,5 points. The republic is just 3,5 points behind the leaders — Moscow and Saint Petersburg.
  • Tatarstan was also fourth in a rating of Russian regions in cancellation of restrictions imposed because of the coronavirus pandemic. The republic is also in the top 5 regions that began to lift all restrictions due to the coronavirus as one of the first.
By Daria Pinegina