Fitch lowered global growth forecast for 2019-2020

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According to the new forecast of the international rating agency Fitch, in 2019 global GDP will grow by 2.8%, and in 2020 its growth will be at the level of 3.1%. In December, agency experts expected the global economy to grow by 3.1% in 2019, and by 2.9% in 2020. The deterioration of the forecast, however, does not imply the approach of a global recession. Especially, experts highlighted the worsening prospects for the eurozone economy and pointed to clearer signs of a slowdown in the Chinese economy. According to their estimates, a key factor in the slowdown in trade and industrial production in the world was the weakening of domestic demand in emerging economies. They also see the negative impact of trade disputes between the United States and China, albeit to a lesser extent. Economic forecasts for the current year are worsened for 15 out of 20 countries. The highest estimate of economic growth has been lowered for Turkey - by 1.7 percentage points.

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