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10 January
2017
Global
credit rating agency Moody's on Tuesday said the ongoing reforms in India are
likely to boost medium-term growth while the overall outlook for
creditworthiness of sovereigns in Asia Pacific is stable. The Total Investment & Insurance Solutions
In
a statement, Moody's Investors Service said the capacity of governments to
implement measures and the effectiveness of policies in achieving the
respective governments' objectives would shape the sovereigns' credit profiles
over the coming year.
"In
particular, in India (Baa3 positive), Indonesia (Baa3 stable) and the
Philippines (Baa2 stable), ongoing implementation of reforms was likely to
boost medium-term growth," Moody's said.
Moody's
analysis is contained in its just released report titled 'Sovereigns - Asia
Pacific: 2017 Outlook - Stable Outlook Balances External, Political Risks
Against Economic, Institutional Reforms'. The
Total Investment & Insurance Solutions
In
its report Moody's said it had maintained a positive outlook on India's rating
in November 2016, based on its expectation that economic and institutional
reforms would support continued robust growth. The Total Investment & Insurance Solutions
"Measures
including relaxation of foreign investment restrictions, passage of the Goods
and Services Tax, and advancement of a workable bankruptcy code have potential
to stimulate private sector investment, which could lead to stable, balanced
growth and gradually lower the government debt burden," Moody's said. The Total Investment & Insurance Solutions
According
to Moody's beyond the short-term negative impact on growth, demonetisation has
the potential to raise government revenues and provide some fiscal space to
support growth if required.The Total
Investment & Insurance Solutions
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