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Tribune News Network
Doha
The global economy will witness consolidation in 2020, Doha Bank Group CEO Dr R Seetharaman has said in the South Indian state of Tamil Nadu while addressing the Chennai Global Economic Summit 2019 and Sixth World Tamil Conference held recently.
The global economy is forecast to grow at a rate of 3 percent in 2019 and 3.4 percent in 2020, Seetharaman said, citing the IMF.
“For advanced economies, growth is projected at 1.7 percent in 2019 and 1.7 percent in 2020,” he said.
“The emerging market and developing economy group is expected to grow at 3.9 percent in 2019, rising to 4.6 percent in 2020. The global expansion is a fragile one, with growth weakening in the US, China , the euro area and Japan offset by a handful of smaller EMs -Brazil, India, and South Africa – rebounding from tepid growth in 2019.”
The macro-environment is looking up in 2020, including the phase one US-China trade deal, he said. “The looming recession risk is much lower at the end of 2019 than mid-year, but any breakdown in the US-China trade talks could change everything. Recession fears were at their highest levels in mid-2019, when the yield curve inverted for the first time since 2008.
“We are likely to see some stabilization next year as the impact of monetary policy easing around the world is felt. We saw a number of dovish surprises from central banks globally in 2019.”
Talking about India, Seethraman said the country’s economy grew at its slowest pace in more than six years in the July-September period, down to 4.5 per cent from 7.0 per cent a year ago.
“India is expected to take steps to reverse the economic slowdown of an economy that has been one of the engines of global growth. The key happening segments in India include an attractive investment destination, e- commerce market, largest road network, food production, domestic air growth and largest startup eco-system.
“The key expectations from India by 2025 include 200km National Highway road network, $3 trillion consumer market, 550 million middleclass population, 100 smart cities and 175GW renewable energy to be generated.
“The key enablers for India’s growth include improving ease of business, open FDI policies, streamlined tax regime, robust and resilient financial markets and digital first economy. On the whole India is heading in the right direction.”
The bilateral trade between Qatar and India during in 2018-19 is above $12 billion, Seetharaman said.
“Qatar and India can look forward to enhance their collaborations in LNG segment,” he added.
Doha
The global economy will witness consolidation in 2020, Doha Bank Group CEO Dr R Seetharaman has said in the South Indian state of Tamil Nadu while addressing the Chennai Global Economic Summit 2019 and Sixth World Tamil Conference held recently.
The global economy is forecast to grow at a rate of 3 percent in 2019 and 3.4 percent in 2020, Seetharaman said, citing the IMF.
“For advanced economies, growth is projected at 1.7 percent in 2019 and 1.7 percent in 2020,” he said.
“The emerging market and developing economy group is expected to grow at 3.9 percent in 2019, rising to 4.6 percent in 2020. The global expansion is a fragile one, with growth weakening in the US, China , the euro area and Japan offset by a handful of smaller EMs -Brazil, India, and South Africa – rebounding from tepid growth in 2019.”
The macro-environment is looking up in 2020, including the phase one US-China trade deal, he said. “The looming recession risk is much lower at the end of 2019 than mid-year, but any breakdown in the US-China trade talks could change everything. Recession fears were at their highest levels in mid-2019, when the yield curve inverted for the first time since 2008.
“We are likely to see some stabilization next year as the impact of monetary policy easing around the world is felt. We saw a number of dovish surprises from central banks globally in 2019.”
Talking about India, Seethraman said the country’s economy grew at its slowest pace in more than six years in the July-September period, down to 4.5 per cent from 7.0 per cent a year ago.
“India is expected to take steps to reverse the economic slowdown of an economy that has been one of the engines of global growth. The key happening segments in India include an attractive investment destination, e- commerce market, largest road network, food production, domestic air growth and largest startup eco-system.
“The key expectations from India by 2025 include 200km National Highway road network, $3 trillion consumer market, 550 million middleclass population, 100 smart cities and 175GW renewable energy to be generated.
“The key enablers for India’s growth include improving ease of business, open FDI policies, streamlined tax regime, robust and resilient financial markets and digital first economy. On the whole India is heading in the right direction.”
The bilateral trade between Qatar and India during in 2018-19 is above $12 billion, Seetharaman said.
“Qatar and India can look forward to enhance their collaborations in LNG segment,” he added.
