by: Sarah Joson
Friday, December 11, 2015 |
Global rating agency Fitch Ratings recently released a report called “Global Economic Outlook” which reveals that Asian economic growth will normalize at 6.3 percent due to external risks that are affecting economies around the world.
A statement released together with Fitch’s report revealed that the gross domestic product (GDP) of Emerging Asia will decelerate to 6.3 percent in 2016 due to regional challenges that could pose threats to its growth.
Fitch pointed out that the slowdown is actually more of “normalization” than an uncontrolled problem. In fact, emerging Asia is seen by the debt watcher as the fastest-growing emerging markets region for 2016.
Forecast for the Asia-Pacific region is still unclear as external issues such as the slowdown in China continue to affect the region. Factors that likewise affected the region’s growth were sluggish global trade and rise in US rates.
Growth in India is expected to reach eight percent for the fiscal year ending in March 2017. If China and India were to be excluded in the emerging Asia group, growth is pegged at 5.2 percent next year, from five percent this year.
We can help you understand the possibilities. Reach out to us today.