The rating agency Fitch has corrected the outlook for the growth of the world economy for 2017-18.
A press release of the agency Global Economic Outlook asserts that the global GDP for 2017 will be equal to 3.1% (the previous forecast spoke about the GDP level of 2.9%). GDP is expected to increase by 3.2% during 2018 (the previous forecast is 3.1%).
The representatives of the rating agency say that the economy will see the most significant growth in the last 8 years. Revival is also observed in advanced economies as well as in the countries where the economy is only developing. The improvement of the economic situation is accompanied by positive changes in trade. For example, the significantly increased import from China has provoked an increase in the trade by 5%.
The only thing that can stop the global growth of economies is the threat of a military conflict and the growing geopolitical tension. The rating agency shows interesting statistics for specific countries. Forecasts for 2017 regarding 13 countries were improved. The analysts have adjusted projections for seven countries for the year 2018.
Fitch has given a global outlook for the US dollar. According to the analysts, there will be a slight increase in the US national currency; a cross-rate (for example, in relation to the stable yen) will show the growth by 4-5% each year.
An increase in oil prices is also forecasted. In three years the price of oil is likely to be $ 55 per barrel.
The material was prepared with the participation of Andrey Majorov,
a leading analyst of the brokerage company CT Trade