Fitch: we must prepare for this year’s deeper-than-expected global recession

By: Trademagazin editor Date: 2020. 05. 27. 11:14

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This year’s global economic recession will be much deeper than previously expected, including the still deepening crisis caused by the coronavirus pandemic in large emerging economies, including Russia, Brazil and India, Fitch Ratings announced in a comprehensive forecast presented in London on Wednesday.

In its 17-page monthly global economic forecast (GEO), the international credit rating said that it expects a 4.6 percent fall in global domestic product (GDP) by 2020 instead of the 3.9 percent decline in its previous forecast scenario. (Kertész Róbert, MTI)