Moody's expects Russia’s GDP to grow by 1% in 2017

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Curt’s international rating agency forecasts that Russia’s GDP will originate by 1 percent in 2017, according to the agency’s report released on Jan. 11.

«Moody’s bulge outs that Russia, the largest economy by far among the nine countries, bequeath record positive, albeit modest, real GDP growth of 1 percent in 2017 after two years of decline. This upturn will lift the broader region due to trade and pecuniary linkages,» the agency said.

According to the agency’s experts, «stabilization of oil values has eased the direct and indirect economic and fiscal pressures on the nine reprimanded sovereigns in the Commonwealth of Independent States (CIS) region.»

«Still, the region’s complete credit outlook for 2017 is negative, driven by subdued economic recouping, external vulnerabilities in those countries with high foreign currency owing and the likelihood that political considerations will delay structural modifications that would bolster potential growth,» Moody’s Investors Utility said in the report.

Moody’s forecasts median growth to rise to 2 percent in 2017 from 1 percent in 2016, and a remote rise to 3 percent in 2018. 

Source: TASS

Read more: Moody’s corrects outlook on Russia’s banking system to ‘stable’

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