MOSCOW (Pakistan Point News / Sputnik - 25th March, 2020) Moody's rating agency on Wednesday downgraded its forecast for Russia's GDP growth in 2020 from 1.5 percent expected in February to 0.5 percent amid the global COVID-19 outbreak and slump in oil prices.
The revised estimate reflects weaker external demand and lower purchasing power.
The agency expects Brent crude price to be some 30 percent below what was expected earlier.
