Slower economic growth can be partially offset by government spending initiatives backed by a sizable pool of accumulated foreign-currency reserves (70% of GDP as of year-end 2014), says the reports.
"Developments in the non-oil economy are the principal determinants for the banks` operating environment, and, as such, dictate the evolution of bank performance," says Maria Malyukova, a Moody`s Analyst and author of the report.
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