USA and China together has hit the Russian economy

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www.vsyako.netDmitry Medvedevthe: Dmitry Astakhov / RIA Novosti

The trade confrontation between the US and China led to the fall of energy demand, because of what Moscow will have to adjust the forecasts for the growth rate of the economy. This was stated by Prime Minister of Russia Dmitry Medvedev, reports TASS.

“The global economy is slowing, falling demand for energy — for us, this is sensitive”, — he explained. According to Medvedev, the reduction in demand for some goods will not allow to save the planned growth.

In late August, the international rating Agency Moody’s has lowered the growth forecast for Russia by the end of 2019. It is estimated that GDP will grow by 1.2 percent, not 1.6 percent, as previously assumed. In July its estimate from 1.4 percent to 1.2 percent and reduced the international monetary Fund (IMF).

The Bank of Russia, in turn, predicted the decline in exports for the year. On 6 September the head of the regulator Elvira Nabiullina noted that the slowdown in the global economy was stronger than expectations and in the first half of Russia is already faced with falling export volumes on a wide range of products.

The trade confrontation between the two largest economies in the world — USA and China — continues a year and a half. The parties have imposed on each other import duties on hundreds of billions of dollars. The next stage of negotiating a new trade agreement planned for the beginning of October.

Video, photo All from Russia.

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