Moody’s predicted decline of Russia’s GDP in 2015 to 5.5% – RBC

Moody's predicted decline of Russia's GDP in 2015 to 5.5% – RBC

The international rating agency Moody’s predicts a decline in Russia’s GDP in 2015 to 5.5%. This assessment is contained in the statement of the agency’s downgrade of Armenia.

«Moody’s expects that Russia’s GDP will decline in 2015 by 5.5%, which would weaken the economic activity in Armenia due to its historically strong correlation with Russia” – said in a statement.

Earlier, another international rating agency Fitch forecast that the fall of the Russian economy in 2015 will amount to 4%. The assessment was made public on January 9 statement the agency cut the credit rating of Russia from «BBB» to «BBB -».

This week, it is expected that the agency Standard & amp; Poor’s announced the result of the revision of the sovereign credit rating of Russia. S & amp; P Send it to review with “negative outlook” at the end of December 2014. With a 50% chance it will be reduced to “junk” level. So far, Russia has ratings from two rating agencies – Fitch and S & amp; P – one notch above “junk”. Rating agency Moody’s is two notches above “junk» (Baa2).

On Wednesday 13 January, the Economic Development Ministry has admitted that Russia’s GDP could fall by 5% in 2015, in a scenario of an average oil price in $ 40 per barrel. These figures led Deputy Economic Development Minister Alexei Vedev, explaining that the agency is considering and such a scenario. More optimistic scenario Ministry suggests that at a price of $ 60 per barrel decline in the Russian economy in 2015 will be 3%.