Putin offers condolences to UK over terror attack in ManchesterRussian Politics & Diplomacy May 23, 10:10
Islamic State claims responsibility for Manchester terror attackWorld May 23, 9:30
Police say death toll in Manchester Arena explosion reaches 22World May 23, 9:18
Hollywood actor Steven Seagal to get free land in Russia's Far EastSociety & Culture May 23, 9:06
Ariana Grande tweets she is 'broken' over blast following her concert at Manchester ArenaWorld May 23, 8:03
British PM to chair meeting of emergency response committee after Manchester blastWorld May 23, 7:53
Anti-corruption fight in Russia is in earnest, says upper house speakerRussian Politics & Diplomacy May 23, 6:24
British prime minister calls Manchester blast 'appalling terrorist attack'World May 23, 5:52
At least 19 people confirmed dead in Manchester Arena blastWorld May 23, 4:40
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.