Moscow and Beijing call for complete denuclearization of Korean PeninsulaRussian Politics & Diplomacy May 26, 14:35
G7 summit kicks off in ItalyWorld May 26, 13:55
Kremlin spokesman says Russia stands with UK in war on terrorRussian Politics & Diplomacy May 26, 13:13
Russia looks for traces of extra-terrestrial life forms on ISS surfaceScience & Space May 26, 13:04
Press review: NATO's anti-terror Trump card and US' Syrian civilian body countPress Review May 26, 13:00
Russia warns NATO against military buildup along eastern borderRussian Politics & Diplomacy May 26, 12:01
Russia to sell over 360 cutting-edge helicopters by 2030Military & Defense May 26, 11:37
Trump’s limo too big to fit through Royal Palace gates in BrusselsWorld May 26, 11:18
Russian ambassador says Paris remains important partner for MoscowRussian Politics & Diplomacy May 26, 10:20
BEIJING, January 27 /TASS/. Russia's GDP will decrease by 0.6% in 2016, according to the report by the Chinese largest rating agency Dagong released on Wednesday.
According to the report, low oil prices and high inflation will hinder the development of the Russian economy in 2016.
Despite the efforts of the Russian government to increase tax revenues, the recession of the economy limits the ability of the task, the report said.
Agency experts predict that as the level of geopolitical risks and the need to combat terrorism are growing, Russia will significantly increase military spending.
For this reason, Russia’s public debt/GDP ratio will increase in comparison with the end of last year by 4% - to 27.3%. The report notes that in 2017 this figure will continue to rise and reach 29.2%.
Dagong agency was established in 1994. Its ratings are recognized by the Chinese government.