Moody’s Investors Service, a Global rating agency has forecasted that India will be the fastest growing economy among G-20 nations clocking one per cent growth in year 2017.
In the report referred to as ‘Modest Acceleration in the Global Economy’, Moody explained, Indian economy is going to be the fastest growing among the G-20 nations, even though it slowed straight down in the fourth quarter of 2016 as a result of demonetisation project in the country.
Moody additionally mentioned, the ongoing cyclical restoration in global economic activity with growth in G-20 nations picking up reasonably to 3 per cent in 2017 and 2018 from 2.6 per cent in 2016.
The rating agency in addition stated, that there is a substantial risk of a significant protectionist move in United States trade policy and may cause long-term difficulties for the global economic climate.
Commenting on Asian countries, the agency pointed out, China’s economy stabilized across the official growth target of 6.7 per cent in 2016 however may probably carry on to decelerate to 6.3 per cent and 6 per cent in 2017 and 2018.
