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RUSSIA'S ECONOMY

S&P's decision to lower Russia's rating is clearly political — Russian PM

Dmitry Medvedev pointed out the Russian government and representatives of business should work out concrete decisions due to the downgrade of Russia’s sovereign credit rating by S&P

© EPA/JUSTIN LANE

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KHMELEOVO, (Bryansk Region) January 27./TASS/ Standard &Poor's decision to lower Russia's rating is clearly political said Russia's Prime Minister Dmitry Medvedev on Tuesday.

"What is it if not a political decision? Of course, all of us will get over it, but it is bad, since it makes the situation in the country difficult, and I'll be frank, in the world," Medvedev said.

"All these ratings, that everyone is talking about, it's obvious that it is a political tool in its purest form,» Medvedev said. "And I say that, not only because certain decisions have been made about my country," he added, while questioning the mechanism of how these ratings are formed.

The Prime Minister reminded that a number of countries have imposed restrictions against the Russian economy. "Is that a political decision? Certainly, without a doubt, and then, on the basis of that conclusion, we decide that a particular economy is not working as it should," Medvedev said.

According to him, the decision to downgrade Russia's credit rating was made based on the allegations that the "economy is not coping well.".

Medvedev pointed out the Russian government and representatives of business should work out concrete decisions due to the downgrade of Russia’s sovereign credit rating by S&P.

"We should work out concrete decisions, which will help our economy in those conditions," Medvdev said.

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Dmitry Medvedev

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