Fitch predicts global GDP decline of 3.9% in 2020

US, WASHINGTON (ORDO NEWS) — Global GDP in 2020 will fall by $ 2.8 trillion, or 3.9%. This was announced on Wednesday, April 22, in a statement by the international rating agency Fitch.

“Global GDP is expected to decline by 3.9% in 2020,” the agency said.

According to analysts, this is due to the proliferation of measures to suspend companies due to the coronavirus pandemic. According to them, in the eurozone GDP will decline by 7%, in the US – by 5.6%, and in the UK – by 6.3%.

The largest decline in GDP will occur in the Eurozone, since there, the fight against coronavirus had the strongest impact on economic activity in the first quarter of 2020. In Italy, according to the agency, GDP will decline by 8%.

At the end of March, Bloomberg analysts predicted a severe economic crisis in Europe due to the coronavirus pandemic, and also warned of the strongest drop in GDP in the region since the formation of the European Union.

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