Date: 21/06/2024

India fastest growing Asia-Pacific economy: Moody’s

India is expected to remain the fastest-growing economy in the Asia-Pacific region in the second half of 2024 fuelled by domestic demand growth, said credit rating agency Moody’s Ratings. India will sustain last year’s domestically driven momentum. The agency anticipates policy continuity after the general election and a continued focus on infrastructure development and encouragement of private sector investment. The report also noted that India, Indonesia and the Philippines were the key growth outperformers in the first half of 2024. On the banking front, the report noted that the Indian banking system is on a positive outlook because of good economic growth and healthy corporate credit quality. Regarding the possibility of rate cuts in the region, it notes that the pace of monetary policy normalisation will be uneven across Asia-Pacific (APAC), as per a report.
source: Exim News Service: Singapore, June 20