Russian bankruptcies to rise in 2015, Supreme Court chairman warns
MOSCOW, March 13 (RAPSI) – Russia's Supreme Court chairman Vyacheslav Lebedev expects bankruptcies to rise in the country this year because of economic hardships.
“It will be hard this year, and we expect bankruptcies to rise. Taking into account the circumstances, defaults on obligations and improper fulfillment [of obligations] will obviously rise,” Lebedev said at a meeting with Russian President Vladimir Putin at his residence near Moscow.
Russia's Economic Development Ministry said in January that it expected gross domestic product to fall 3 percent this year with average oil price of $50 per barrel. Under the forecasts, inflation would would be at 12.2 percent by the end of the year.