Reduction of Russia’s GDP will amount to 5.5 percent in 2015. Such assessment was provided by the international agency Moody’s, commenting on the decision of lowering the rating of Armenia.

      “Moody’s expects that Russia’s GDP will fall by 5.5 percent in 2014, which will weaken the economic activity in Armenia due to its historically strong correlation with the economic growth cycle in Russia” - the statement said. Earlier on Thursday the head of the Ministry of Economic Development Aleksei Ulyukayev assumed that GDP would fall by 5.4 per cent, if the oil price stayed at the level $ 45 per barrel during 2015. With the fuel price at 60 dollars, according to his estimates, GDP may fall by 3 percent. On Wednesday the Deputy Minister of the Agency Aleksei Vedev stated that the reduction of Russia’s GDP in the first quarter of 2015 might exceed 1 percent in annual terms.