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Moody’s downgraded the Outlook on Russia’s GDP

Moody’s ухудшило прогноз по ВВП России

International rating Agency Moody’s has worsened the forecast decline of Russia’s GDP in 2016.

According to experts of the rating Agency, this year the level of decline in the Russian GDP will be 2.5%. Earlier analysts predicted a drop in GDP of 1%.
The forecast for the decline in GDP was changed due to lower oil prices, weaker ruble, and the Russian government’s tightening fiscal measures to reduce the growth of the national debt.

Moody’s downgraded forecasts for GDP growth and for Brazil, South Africa and Saudi Arabia. In these countries is expected to decrease GDP by 3%, 1.5% and zero dynamics respectively.

Earlier, the international rating Agency Standard & Poor’s confirmed long-term rating of Russia under obligations in foreign currency at “BB+” with the “negative” forecast. Short-term rating on liabilities in foreign currency S&P experts have left on the “B” level. The Russian Agency affirmed the national scale rating “ruAAA”.

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