MOSCOW, April 28. /TASS/. The international rating agency Moody’s expects that Russia’s national GDP will decline by 5.5% in 2020 but will grow by 2.2% in 2021, the agency said on Tuesday.

The rating agency lowered the outlook for Russian GDP growth to 0.5% on March 25 on the back of falling oil prices and the coronavirus pandemic.

Moody’s also revised real GDP outlooks for 2020 and 2021 downward for all members of the Group of Twenty.

Oil prices are expected to remain low, the rating agency forecasts.