Moody’s slashes India’s 2020 growth projection

1 min read

News:Moody’s Investor Service has released its Global Macro Outlook Report.

Facts:

Key takeaways from the report:

  • Revised India’s growth forecasts to 5.4% for 2020 and 5.8% for 2021, down from previous projections of 6.6% and 6.7% respectively.
  • India’s key to stronger economic momentum would be revival of domestic demand and resumption of credit growth.
  • It has also reduced the global GDP growth forecast and expects G-20 economies to collectively grow by 2.4% in 2020 and 2.8% in 2021.
  • However,it says that the coronavirus outbreak in China is expected to cause disruption in the first quarter.

Additional information:

About Moody:

  • Moody’s is an essential component of the global capital markets.
  • It provides credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets.