Paintings by Chagall, Russian 16th century icons to be on display at art fair in BrusselsSociety & Culture January 16, 21:50
Russia calls to probe into attack on Moscow Patriarchate’s church in Kiev — diplomatRussian Politics & Diplomacy January 16, 21:25
Russia, US start restoring business ties — ombudsmanBusiness & Economy January 16, 21:21
Figure skating pairs competition excluded from schedule of 2017 Winter UniversiadeSport January 16, 20:34
DPR top diplomat blames Kiev for dodging discussion of Steinmeier formula implementationWorld January 16, 20:14
IMF maintains forecast for global economy growth in 2017 at 3.4%Business & Economy January 16, 19:45
Six more settlements join Syria ceasefire regime — Defense MinistryWorld January 16, 19:22
Foreign Ministry: Washington initiating new arms race in EuropeRussian Politics & Diplomacy January 16, 19:15
Diplomat says anti-terror efforts must not be hostage to political ambitionsRussian Politics & Diplomacy January 16, 19:08
MOSCOW, September 22. /TASS/. Moody's rating agency projects Russia's GDP will decline by 4% in 2015 and by 1% in 2016, vice president and senior analyst Alexander Proklov said at Retail risk management-2015 forum on Tuesday.
According to the agency, recession will continue in Russia amid slow recovery of crude prices.
"This time around recession will last longer than it was in 2008-2009. Oil prices will still be volatile though at comparatively low levels," Proklov said.
Moody’s also expects the current sanctions mechanism to maintain. "We expect inflation to keep high next year as well amid current conditions. Meanwhile consumer spending will go further down," Proklov said.Russia’s Central Bank is unlikely to aggressively reduce its key interest rate due to high inflation, the expert added.