Bloomberg says Ukraine and Russia to end 2015 as biggest worldwide losers in terms of economic growth
It says according to Bloomberg's experts, Ukraine will see its GDP shrink by 4% over Q4 2014 – the bottom of the 47 world economies that Bloomberg polled from April to June. Ukraine’s misfortune is shared by its neighbor Russia, where GDP will plunge 3.5% by the end of 2015 at a time of international sanctions and plunging oil revenue.
Sections of Latin America will also struggle on the eve of 2016, the poll concluded. Switzerland, still reeling from the move on part of the Swiss National Bank in January to scrap its franc-euro cap, was rated number 5 on the list of states with unfavorable GDP. Switzerland is expected to manage a yearly growth of 0.1%.
Greece’s No. 8 position could be precarious, as economists had said in April the country would expand 0.9% by the end of the year. At the bottom of the list were Croatia, Serbia, Italy and Kazakhstan. Russia is Kazakhstan’s biggest trading partner and as a result, the latter is now set to grow 1.2%, after plummeting from the previous forecast of 3.6% economists projected three months ago. -0-