Fitch worsens RussiaТs 2020 GDP decline outlook to 5.8%
MOSCOW, Jun 29 (PRIME) -- International rating agency Fitch has worsened its outlook for RussiaТs gross domestic product (GDP) decline in 2020 to 5.8% from 5% amid coronavirus and lower oil production, the agency said on Monday.
Fitch also raised its forecast for RussiaТs GDP growth in 2021 to 3.6% from 3% and expects the Russian economy to grow 2% in 2022.
The Economic Development Ministry expects RussiaТs GDP to fall 5% in 2020 and grow 2.8% in 2021, but the forecast has not been approved by the government yet.
The central bank projects RussiaТs economy to decrease 4Ц6% this year and grow 2.8Ц4.8% next year.