Standard & Poor’s cut the GDP forecast for Russia in 2015 to 3.6%

The FINANCIAL — Standard & Poor’s Ratings Services cut down its forecast for reduction of the Russian GDP in 2015 to 3.6%, as opposed to the previously expected index of 2.6%, declared the Senior economist at S&P, Tatiana Lysenko on October 15.

“This change reflects our expectations for prolonged weakness in Russian demand because of lower and more volatile oil prices, tightening fiscal and monetary policy until the end of 2016, compared with our previous assumptions,” — added T.Lysenko.

Also, the agency revised the 2016 GDP forecast to +0.3%, down from the previous expected index of +1.9%, according to APK-Inform.