Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Moodys Forecasts Russias GDP Decline
September 24, 2015 16:30


The Russia’s GDP will decline by 4 percent in 2015. This was reported by the vice-President of Moody’s Investors Service (the organization representing the international rating agency in Russia) Aleksandr Proklov, according to TASS.

Earlier Moody’s forecasted a 3 percent decline.

At the same time he stressed that the recession in the RF would last longer than in 2008-2009, as the price of oil would fluctuate at low levels. Over the next year a barrel will cost $ 50-60, as Proklov predicts. The experts of Moody’s also believe that the inflation will remain high in 2016.

“Against this backdrop the consumer expenditures continue to shrink” – Aleksandr Proklov stated.

On September 17 the Deputy Finance Minister of Russia Maksim Oreshkin noted that the country’s economy was fully adapted to the adverse external situation and returned to growth. GDP will start to grow in the first quarter of 2016, as the official believes.

A day earlier the Minister of Economic Development Aleksei Ulyukayev said that the Russia’s GDP had fallen by 3.9 percent in January-August. According to him, the economy will also lose 3.9 percent in 2015. The Central Bank forecasts a fall at the level of 3.9-4.4 percent (with oil prices at 52 dollars per barrel).

According to the former Russian Finance Minister Aleksei Kudrin, the share of Russia in the global economy will decrease to 2.6 percent by 2020 - the smallest figure in the history of the country since the collapse of the Soviet Union.


Author: Anna Dorozhkina


Next Previous

You might also find interesting:

Last Soviet Burden The Highest-Paid Hockey Players in the NHL Strong Outlook for Russia's Energy Sector - Report by BP Russia - China Trade Turnover Grows This Weeks Top Spending Stories

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
rare coins  Starfish  Russian business  Russian tourism  St. Petersburg Parks   Navalny Brothers  Andrey Guriev  Elena Roerich  Maloyaroslavets  Monuments to Dogs  incident  Sergey Kalugin  pictures  Mercedes-Benz Fashion Week Russia  Exhibitions in Moscow  Open-Air Concerts  Moscow  Russian regions  Moscow planetarium  Altai  Yamburg Fortress  Life Saving  St. Petersburg  Norilsk Nickel  Russian Museums   Russian Cinema  Russian opera singers  Lyudmila Lyadova  Concerts in Novosibirsk  Russian transportation  tours to Russia  Sergei Ovchinnikov  Concerts in Yekaterinburg  Censorship  Cars  easyJet   Helikon-Opera  travel to Russia  North Caucasus  Election 2012  Tragedy  Rostov  organic chemistry  Russian courts  Festivals in Moscow  Russian cities  Medicines  Great Patriotic War  business  External Debt 

Travel Blogs
Top Traveling Sites