COMMENT – Divergent recoveries in Asia: History is not destiny

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Asian economies are performing better than expected. In the IMF’s latest World Economic Outlook Update, we upgraded our growth estimate for 2020 by 0.7 percentage point from our previous forecast in October, to a contraction of 1.5 percent—in regional terms, a better outcome than other parts of the world. This is largely driven by stronger-than-expected performance among […]

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Global economy expected to expand by 4 per cent in 2021: World Bank

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As the COVID-19 vaccine started rolling out in many countries, the World Bank expects that the global economy will expand four per cent in 2021, but will still remain more than five per cent below its pre-pandemic trend. “The global economy appears to be emerging from one of its deepest recessions and beginning a subdued […]

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Fitch Ratings joins S&P and Moody’s in trimming India outlook to `negative’

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Fitch Ratings retained its sovereign rating for India at the lowest investment grade of BBB negative, and trimmed its outlook to ‘negative’ from ‘stable’, citing a sharp Covid-induced deterioration of the country’s growth and fiscal metrics. In a statement, Fitch said: “The coronavirus pandemic has significantly weakened India’s growth outlook for this year and exposed […]

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Steady reform progress fuelling India’s growth pick up – ADB

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India’s fast growth will resume with gross domestic product (GDP) expanding by 7.4% in fiscal year (FY) 2017 and 7.6% in FY2018 supported by reform measures, a new Asian Development Bank (ADB) report said. In its new Asia Development Outlook (ADO) 2017 report, ADB notes that the deceleration to 7.1% registered last year was due in part […]

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China needs to accelerate structural reforms to support growth – ADB

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China needs to accelerate structural reforms in order to boost productivity and sustain growth momentum, Asian Development Bank (ADB) said in a report. In its Asian Development Outlook (ADO) 2017, ADB projects gross domestic product (GDP) growth for the China moderating to 6.5% in 2017 and 6.2% in 2018, from 6.7% last year. China’s efforts to […]

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India’s agriculture sector expected to bounce back in current fiscal – CSO

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India’s beleaguered farm sector battered by two successive droughts is expected to bounce back to positive growth in the current fiscal after a surprise contraction last year, advance economic growth estimates by the Central Statistics Office (CSO) showed. The CSO said the agriculture, forestry and fishing sector is likely to show a growth of 1.1 […]

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