Moody’s changes Russia’s GDP growth outlook

International rating agency Moody’s has cut its Russia’s 2019 gross domestic product growth forecast to 1.2% from 1.6%, the agency said in the Global Macro Outlook 2019-2020 report.

The 2020 forecast was kept at 1.5%. The agency expects Russia’s inflation at 4.6% in 2019 and at 4% in 2020.

Besides Russia, the agency worsened its GDP forecasts for China, Australia, Japan, South Korea, India, Mexico, Brazil, Saudi Arabia, Germany, and Italy, the Prime news agency reported.