Moody’s lowers Russia’s 2020 GDP growth outlook to 0.5%

MOSCOW, Mar 25 (PRIME) -- International rating agency Moody’s has lowered its outlook for Russia’s gross domestic product (GDP) growth in 2020 to 0.5% from 1.5% amid a decline in oil prices and the coronavirus pandemic, the agency said on Wednesday.

Moody’s said it projects that the base price for Brent oil will be around 30% lower than previous forecasts, and as a result Russia’s economic growth will slow to 0.5%.

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