Key facts
- Fitch Ratings has lowered its global economic growth forecast for 2020.
- The agency cited escalating US-Iran tensions as a key factor.
- Fitch stated the conflict has inflicted broad damage on the global economy.
Fitch Ratings has reduced its global economic growth forecast for the year 2020. The agency attributed this revision to the significant and widespread damage caused by the escalating conflict between the United States and Iran. The heightened tensions between these two nations were identified as a primary driver behind Fitch's adjusted economic outlook.