Moody’s keeps India’s growth outlook unchanged
18/08/2016 11:58
Leading global credit rating agency Moody’s Investors Service has maintained its growth expectations for Asia’s third biggest economy in 2016, even as it upgraded its assessment of China.
Moody’s expects India’s economy to expand at 7.5 per cent in 2016, unchanged from its previous outlook in May.
“Our growth expectations for India, Indonesia, Korea and Saudi Arabia are unchanged from our previous outlook publication in May”, Moody’s said in its latest assessment of the world economy on Thursday.
India’s economy which expanded at 7.3 per cent in 2015, will likely see a growth of 7.5 per cent in 2017 also, Moody’s said.
India remains the world’s fastest growing major economy led by strong reform impetus, a robust domestic consumption story and resilient external finances which have helped the economy withstand heightened global headwinds.
The agency raised its growth forecast for China’s economy to 6.6 per cent for 2016 from 6.3 per cent earlier driven by strong fiscal and monetary support.
“Headwinds to emerging markets have moderated, driven by the economic stabilisation in China, the modest recovery in commodity prices, and the return of capital flows; however, we expect the US Federal Reserve to resume its interest rate tightening cycle at the end of this year,” it added.
18/08/2016 11:58
Moody’s expects India’s economy to expand at 7.5 per cent in 2016, unchanged from its previous outlook in May.
“Our growth expectations for India, Indonesia, Korea and Saudi Arabia are unchanged from our previous outlook publication in May”, Moody’s said in its latest assessment of the world economy on Thursday.
India’s economy which expanded at 7.3 per cent in 2015, will likely see a growth of 7.5 per cent in 2017 also, Moody’s said.
India remains the world’s fastest growing major economy led by strong reform impetus, a robust domestic consumption story and resilient external finances which have helped the economy withstand heightened global headwinds.
The agency raised its growth forecast for China’s economy to 6.6 per cent for 2016 from 6.3 per cent earlier driven by strong fiscal and monetary support.
“Headwinds to emerging markets have moderated, driven by the economic stabilisation in China, the modest recovery in commodity prices, and the return of capital flows; however, we expect the US Federal Reserve to resume its interest rate tightening cycle at the end of this year,” it added.
