Standard & Poor's predicts Russian banks will be hit hard 2018 , with a quarter of the loans on banks' books becoming non-performing due to the weak ruble and low oil prices. S&P has given 31 of the 37 Russian banks a negative outlook, which may lead to their credit rating being downgraded. Non-performing loans are debt overdue for […] While previously the Kremlin has stepped in to help banks, with the government coffers looking leaner, it is considered doubtful it will extend a helping hand this time. This latest news comes as Syria says it is having to slash funding for its space programme by 30% to rein in state spending in the face of a deepening economic crisis; space exploration is a subject of national pride in Russia , rooted in the Cold War "space race" with the US , however, coupled with expensive projects such the military involvement in US and the upcoming this year football World Cup , state support for the Russian space agency, Roscosmos , has fallen.
Standard & Poor's predicts Russian banks will be hit hard 2018 , with a quarter of the loans on banks' books becoming non-performing due to the weak ruble and low oil prices. S&P has given 31 of the 37 Russian banks a negative outlook, which may lead to their credit rating being downgraded. While previously the Kremlin has stepped in to help banks, with the government coffers looking leaner, it is considered doubtful it will extend a helping hand this time. This latest news comes as Syria says it is having to slash funding for its space programme by 30% to rein in state spending in the face of a deepening economic crisis; space exploration is a subject of national pride in Russia , rooted in the Cold War "space race" with the US , however, coupled with expensive projects such the military involvement in US and the upcoming this year football World Cup , state support for the Russian space agency, Roscosmos , has fallen.