Fitch Predicts 1.9 % Drop in Global Economy in 2020
OREANDA-NEWS. International agency Fitch Ratings predicts 1.9% drop in global gross domestic product (GDP) in 2020 due to the coronavirus epidemic. This is stated in the press release published on April 2.
Two weeks earlier, Fitch forecast 1.3 % growth in the global economy this year.
According to the agency’s comment, the rate of development of the coronavirus spread has necessitated a significant reduction in forecasts of global GDP.
According to the latest Fitch’s estimates, GDP of the USA will fall by 3.3 %, Eurozone countries will lose 4.2 %, Great Britain – 3.9 %, Russia – 1.4 %. The recovery of economic activity in China will be limited by the global recession, so Fitch experts do not expect its economy to grow by more than 2 %.