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.
Moody’s changes Russia’s GDP growth outlook
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