Kazakhstan among 10 World’s Worst Performers in Economy: Bloomberg
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Rounding out the dismal 10 were Croatia, Serbia, Italy and Kazakhstan. Kazakhstan, whose biggest trading partner is Russia, is now expected to grow 1.2 percent, having plunged from the 3.6 percent economists projected three months ago.
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 percent 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 percent by year-end amid international sanctions and depressed oil revenue. Here's how those two stack up among the 10 biggest GDP losers:
Parts of Latin Americaalso will be struggling on the eve of 2016. Brazil and Argentina, each suffering from soaring inflation and unemployment, will see year-over-year contractions of 1.6 percent and 1.5 percent, the poll data show. Brazil saw the biggest downgrade among the 28 economies that were included in Bloomberg's January survey. At that time, South America's powerhouse was expected to grow 1 percent this year.