Moody's: Russia's GDP to further fall in 2016

Moody's: Russia's GDP to further fall in 2016

Moody's Investors Service changed its outlook on next year Russia's GDP. The foreign analysts do not expect that the Russian economy will show any growth. However, the report titled "Downward Revisions to 2016 Global Economic Outlook" said that Russia's GDP will continue to fall. According to Moody's, the volume of the Russian economy will be reduced by another 0.5-1.5%. The experts have revised their forecasts mainly due to low oil prices and the devaluation of the ruble, Gazeta.ru reports.

Earlier, Russian Economy Minister Alexei Ulyukayev said that Russia's economy has reached the "bottom".

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