Fitch Ratings lowers its forecast on global GDP growth to 2.9%


June 14, Fineko/ Fitch Ratings has lowered its forecast on global GDP growth for the current year to 2.9% from 3.5%.

ABC.AZ reports that in addition, China's economic growth is forecast to fall from March's 4.8% to 3.7% this year.

Fitch Ratings revised the forecast for the U.S., increasing by 0.6 pp to 2.9 pp, and for the eurozone - increasing by 0.4 pp to 2.6 pp.

The agency also downgraded the outlook on global economic growth for 2023 by 0.1 pp to 2.7%. Growth in the U.S. is projected to fall to 1.5% in 2023 and to 1.3% in 2024.