Fitch Forecast For Russian GDP Growth In 2018 Up To 2% From 1.8%

Faizan Hashmi Published September 25, 2018 | 06:41 PM

Fitch, a major global credit ratings agency, has revised its 2018 GDP growth forecast for Russia from 1.8 up to 2 percent, Global Sovereigns Director at Fitch Ratings Erich Arispe said on Tuesday.

MOSCOW (UrduPoint News / Sputnik - 25th September, 2018) Fitch, a major global credit ratings agency, has revised its 2018 GDP growth forecast for Russia from 1.8 up to 2 percent, Global Sovereigns Director at Fitch Ratings Erich Arispe said on Tuesday.

In August, Fitch projected that Russia would see GDP grow 1.8 percent in 2018 and 1.5 percent in 2019.

"We are expecting that the economic growth will amount to 2 percent this year and 1.

5 percent next year," Arispe said at the Fitch annual conference on Russia.

According to the data presented at the conference, the country's GDP growth in 2020 is expected to reach 1.9 percent.

The agency expects inflation in Russia to amount to 2.9 percent in 2018 and 4.5 percent in the following two years.

The Bank of Russia projects the country's GDP growth to stand at 1.5-2 percent this year, 1.2-1.7 percent next year and 1.8-2.3 percent in 2020.