The Fitch agency cuts global growth estimates with the blaze of inflation and the invasion of Ukraine by Russia.
The world's GDP is expected to grow this year by 3.5%, or 0.7 percentage points less than previous forecasts, while in 2023 growth is expected at 2.8%, -0.2 points.
Euroland's GDP was cut by 1.5 percentage points to 3.0% in 2022, while US growth was cut by 0.2 points to 3.5%.
"This reflects higher energy prices but also the faster rise in interest rate expectations in the US," says Fitch.
For Moscow the forecast is an 8% drop in output this year as in the 1998 crisis.
For Italy the forecast is