Moody’s downgraded GDP Russia – RBC

The international rating agency Moody’s downgraded Russia’s GDP falling to 2.5%. This is stated in a press release from the agency received by RBC.

There were also downgraded the outlook for Brazil’s GDP (3% drop), Saudi Arabia (the lowest growth in the past ten years, 1.5%) and South Africa (0%).

The reason for the changes forecast for the economies of Russia and Saudi Arabia began to decline in oil and additional fiscal tightening in prices in order to contain public debt dynamics, explained in the press-service.

On the eve of 17 February, the rating agency Standard & amp; Poor’s confirmed the rating of Russia to “trash” the level of BB + with a negative outlook. The reasons for this, according to analysts, will lower the price of oil and international sanctions.

Earlier forecasts for the Russian economy worsened one of the largest investment banks Morgan Stanley and European Commission experts. If the bank believes that Russia’s GDP will fall by 2.1%, the European Commission predicted a decrease of 1.2%.