Baku, Azerbaijan, July 15
By Leman Zeynalova - Trend:
The global GDP growth forecast for 2019 remains at 3.2 percent, followed by expected growth of 3.2 percent in 2020, Trend reports citing OPEC Monthly Oil Market Report.
“The US economic growth forecast for 2019 remains unchanged at 2.6 percent, followed by 2 percent in 2020. The Euro-zone’s growth estimate for 2019 remains at 1.2 percent and is also forecast at 1.2 percent in 2020,” reads the report.
OPEC expects Japan’s growth at 0.5 percent in 2019 is forecast to continue at the same level in 2020.
“China’s 2019 growth forecast remains at 6.2 percent and is expected to slow down further to 6 percent in 2020. India’s growth forecast remains at 6.8% for 2019, and is anticipated to pick up in 2020 to 7 percent. Brazil’s 2019 growth forecast is revised down to 0.9 percent, and is projected to reach 1.7 percent in 2020.”
The cartel said Russia’s growth forecast for 2019 remains unchanged at 1.4 percent, and is expected to remain at 1.4 percent in 2020.
Although large uncertainties remain, current growth forecasts assume no further down-side risks, and, in particular, that trade-related issues do not escalate further, reads the report.
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