UN downgrades Indias GDP growth forecast to 7.3% in 2017
The Dollar Business Bureau The United Nations (UN) has revised India’s GDP growth forecast downward for 2017 but projected an increase in 2018 predicting 7.9% economic growth as it warned that the banking sectors’ stressed balance sheets will have adverse impact on investments in the short-term. The UN World Economic Situation and Prospects (UNWESP) in its mid-2017 report, launched on Tuesday, said that India is predicted to achieve a growth of 7.3% this year, downward from its earlier forecast of 7.7%, which it made when the report was launched in January. However, the revised report forecast that the country will achieve a notable 7.9% GDP growth next year, from its earlier estimates of 7.6% made in the January report. The report, however, cautioned that stressed balance sheets of India’s banking sector, which has ...
Global growth rate to shoot up in 2015-16, Dollar to dip
Sai Nikesh D | The Dollar Business According to the report, the percentage of global growth rate is going to rise to 3.7% in 2016, when compared to that of 3.5% in 2015, which is higher than that of 3.3% growth rate in 2014. “At the country level, the cross currents make for a complicated picture,” says Olivier Blanchard, IMF Economic Counselor and Director of Research, adding that this would turn good news for the countries linked to Euro and Yen and bad news for the countries linked to US Dollar. In advanced economies, the growth is projected to rise to 2.4% in 2015 and 2016. The growth percentage of the countries is as follows: In United States the projection stands ...
