S&P cuts Russian economic growth forecast for 2015 to 0.6%
MOSCOW, Nov 25 (PRIME) -- Rating agency Standard & PoorТs has reduced the forecast for RussiaТs 2015 economic growth to 0.6% from 1.1%, Senior Director Christian Esters said Tuesday at a press conference.
The gross domestic product increase forecast for 2014 was kept at 0.3%.
The economy will expand by 0.6% in 2015 only if oil price keeps at about U.S. $90 per barrel level, and no new sanctions against it are introduced, Esters said.
Import substitution will support economic growth, he said.