S&P worsened the forecast of falling of GDP of Russia in 2015 to 3.6% from 2.6%

S&P worsened the forecast of falling of GDP of Russia in 2015 to 3.6% from 2.6%


According to the report of international rating Agency Standard & Poor’s, the GDP growth forecast for 2016 also deteriorated to 0.3% from growth of 1.9%, expected earlier.

MOSCOW, 15 Oct. International rating Agency Standard & Poor’s (S&P) downgraded the forecast decline of Russia’s GDP in 2015 to 3.6% from an earlier projected decline of 2.6%, according to the Agency.

The GDP growth forecast for 2016 is degraded to 0.3% with growth of 1.9%, expected earlier.

“This change reflects our expectations for prolonged weakness in Russian demand because of lower and more volatile oil prices, tightening fiscal and monetary policy until the end of 2016, compared with our previous assumptions” — presented in the release, the words of a senior economist S&P Tatyana Lysenko.