Fitch revises outlook on China to ‘Negative’; affirms rating at 'A+'
Source Fxstreet
Apr 10, 2024 03:47
In its latest economic assessment of the Chinese economy, Fitch Ratings revised China’s outlook to ‘Negative’ while affirming its sovereign credit rating at ‘A+’.
Additional takeaways
Outlook revision reflects increasing risks to China's public finance outlook.
Forecast general government deficit in China to rise to 7.1% of GDP in 2024.
Believes that fiscal policy is increasingly likely to play an important role in supporting growth in coming years.
2024 deficit will be highest since 8.6% of gdp deficit in 2020.
The 2024 deficit will be the highest since the 8.6% of GDP deficit in 2020.
Forecasts GDP growth to moderate to 4.5% in 2024, from 5.2% in 2023.
Do not forecast a prolonged period of deflation, with inflation of 0.7% by end-2024 and 1.3% by end-2025.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Related Articles
Spot Bitcoin exchange-traded funds (ETFs) remain an abounding fundamental in the cryptocurrency market since the landmark approval on January 10 and subsequent launch the next day.
The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1053 as compared to the previous day's fix of 7.1030 and 7.2307 Reuters estimates.
Federal Reserve (Fed) Board of Governors member Michelle W.
Related Instrument
