Fitch Ratings on Tuesday projected global GDP to contract 4.4 per cent in the current year but revised upwards China's growth estimate to 2.7 per cent for 2020.
In its September update to the Global Economic Outlook (GEO), Fitch Ratings cut its 2020 GDP forecast for emerging markets, excluding China, to (-)5.7 per cent, from (-)4.7 per cent estimated in June, mainly on account of a huge downward revision to India GDP forecast for the financial year ending March 2021.