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By APD writer Rishika Chauhan
In the last few days, Indian economy has become a topic of discussion in the International Monetary Fund (IMF). While some scholars have expressed their scepticism about economy’s growth, others have remained optimistic.
IMF chief Kristalina Georgieva shared her confidence about the Indian economy, as on Friday she said that in the coming months the momentum will build up and the growth would improve.
Speaking at the World Economic Forum 2020, she also said that compared to 2019, January 2020 appeared promising.
According to her, the factors driving the momentum of Indian economy were, “Receding trade tension after the US-China first phase trade deal and synchronised tax cuts, among others.”
She further said, "It is still sluggish growth. We want fiscal policies to be more aggressive and we want structural reforms and more dynamism.”
“We had a downgrade in one large market India but we believe that's temporary. We expect the momentum to improve further going ahead. There are also some bright spots like Indonesia and Vietnam," she added.
About Africa, Georgieva said, the region’s economies were growing well, however Mexico’s economy was under performing. Besides, global economy was facing weakness in long-term productivity growth and low inflation.
(ASIA PACIFIC DAILY)
