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There is good news about India’s economy. Ratings agency Fitch has raised its medium-term growth outlook by 70 basis points. The rating agency has projected a growth rate of 6.2 percent. Earlier it was 5.5 percent. Apart from India, this American credit agency has also raised Mexico’s medium-term growth rate.
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What did Fitch say? (Fitch Mid Term Growth Rate)
A statement issued by Fitch said that we have raised the ratings of Mexico and India significantly. Better performance is expected due to labor capital ratio. Estimates for India have been revised from 5.5 percent to 6.2 percent and for Mexico from 1.4 percent to 2 percent.
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The rating agency raised Poland’s medium-term growth to 3 percent from 2.6 percent, Turkey’s to 4.1 percent from 3.9 percent, and Brazil’s to 1.7 percent from 1.5 percent. At the same time, Indonesia’s growth rate estimate has been raised to 4.9 percent from 4.7 percent.
Bad news for China
At the same time, there is no good news for China. Fitch cut the neighboring country’s medium-term growth rate to 4.6 percent from 5.3 percent. Russia’s growth rate has been reduced from 1.6 percent to 0.8 percent. Korea has been reduced from 2.3 percent to 2.1 percent and South Africa has been reduced to 1 percent from 1.2 percent.