Fitch downgrades global economic growth forecast for 2020

The international rating agency Fitch downgraded the forecast for global economic growth in 2020 to 2.7% from 2.8%.

Report informs citing TASS that, according to the rating agency, the growth rate of the global economy will be affected by slower growth in China, the USA and Brazil against the background of reduced prospects for business investment in these countries, weak consumer growth in China and expectations of a more moderate growth in other developing countries.

At the same time, Fitch lowered the forecast for growth in China’s economy in 2020 to 6.0% from 6.1%, the forecast for growth in the United States to 1.8% from 1.9%, and the forecast for Brazil’s growth to 2.2% from 2.7%.

However, the agency confirmed the forecast for global economic growth in 2019 at the level of 2.8%.