Economics
Russia Sales Outlook Worst in BRIC Markets on Oil, Recession
- Micex companies seen posting 17% revenue decline in next year
- GDP forecast to contract 3.6% in 2015 as crude prices slump
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Russia is the standout these days among the biggest emerging markets, but for all the wrong reasons.
Beset by the country’s first recession since 2009, oil selling at half its five-year average price and international sanctions linked to the Ukraine conflict, Russian companies are poised to post the in sales among the four so-called BRIC nations, data compiled by Bloomberg show. Two of the others, Brazil and India, also are projected to slump, while China is seen growing modestly.