© REUTERS/Mike Segar

MOSCOW, may 22. /TASS/. International rating Agency Moody’s expects that in 2017 and 2018, Russia’s GDP will grow by 1.5% per year. This is stated in the message Agency.

“Moody’s predicts that real GDP growth will be 1.5% per year in 2017 and 2018, while private expenditure on consumption and investment will support growth of real household incomes and a gradual easing of monetary policy,” – said in a press release.

The Agency believes that the ageing population could hinder the potential growth of the Russian economy in the absence of fundamental structural reforms.

Russia’s budget deficit, according to a forecast by Moody’s to decline to 1.8% of GDP by 2018, compared with a deficit of 3.7% of GDP in 2016. The deficit will shrink due to fiscal consolidation and expected growth in earnings, Fitch ratings says .

Earlier the Minister of economic development of the Russian Federation Maxim Oreshkin expressed the view that the growth of Russian GDP in the II half in annual terms may exceed 2%. The IMF, in turn, evaluated the growth prospects of the Russian economy at the level of 1.5% per year.