International rating Agency Fitch Ratings expects acceleration of growth in global GDP this year to 2.9%.

According to a press release from the Agency, the following year, the pace of recovery will increase to 3.1%, which would be the highest increase since 2010.

“Faster growth this year reflects the simultaneous improvement in the advanced economies and in emerging economies. Macro-policies and the tightening situation in the labour markets support the growth of demand in developed countries, while changes in the housing market in China in 2015 and the recovery of prices of raw materials since the beginning of 2016 contributed to the revival of demand in the countries emerging market”, – said the chief economist at Fitch’s Brian Coulton.

The most significant revision in the positive direction compared with the March report for the Eurozone . Stronger incoming data, improving external demand and strengthening confidence in the fact that the quantitative easing program (QE) by the European Central Bank acts, resulted in the increase of analysts Fitch estimates GDP growth in the Eurozone in 2017 to 2% from an earlier projection of 1.7%.

“The increase in demand in major emerging economies have recovered significantly in 2017. As Brazil and Russia, has recently returned to growth of real GDP, and recent data confirm that consumption and investment start to increase in Russia. After a very strong decline in aggregate demand due to a sharp fall in the price of raw materials in 2014, now is the opportunity for the recovery of demand from the commodity producers of large emerging market States”, – stated in the message Agency.

“Two key downside risk that have been identified in the last quarter, is the collapse of the Eurozone and aggressive protectionism of the United States – has not disappeared, but in recent months has considerably decreased”, – believes B. Coulton.