World Economy
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Biggest Global Growth Losers

Biggest Global Growth LosersBiggest Global Growth Losers

Ukraine will finish 2015 as the biggest loser in global growth, according to forecasts of economists surveyed by Bloomberg. The conflict-battered eastern European nation will see its gross domestic product contract 4% in the fourth quarter from the same time in 2014, the worst of 47 economies polled by Bloomberg in April through June. The ill fortune will be shared by neighboring Russia, where GDP will shrink 3.5% by year-end amid international sanctions and depressed oil revenue. Here’s how those two stack up among the 10 biggest GDP losers: Ukraine is at the top of the list, followed by Russia, Brazil, Argentina, Switzerland, Croatia, Serbia, Greece, Italy and Kazakhstan. Kazakhstan, whose biggest trading partner is Russia, is now expected to grow 1.2%, having plunged from the 3.6% economists projected three months ago. On the other end of the scale, Vietnam joins emerging economies India and China for the three fastest-growing economies by year-end.

Financialtribune.com