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Fitch: GDP falling, world in recession territory

Cuts India forecast to 5.1% for 2020-21

Tribune Web Desk

Updated At : 12:38 PM Mar 21, 2020 IST

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New Delhi, March 20

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Fitch Ratings on Friday cut India growth forecast to 5.1 per cent for FY 2020-21, saying supply chain disruptions in the wake of coronavirus outbreak were likely to hit investment and exports. It also said that with global GDP falling, the world was in “recession territory”.

Fitch had in December 2019 projected India to grow at 5.6 per cent in 2020-21 and 6.5 per cent the following year. “The level of world GDP is falling. For all intents and purposes we are in global recession territory,” said Brian Coulton, chief economist, Fitch Ratings. — PTI

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