AFP, Paris :
Low oil prices normally help grease the wheels of business and spur global economic growth, but Moody’s said Wednesday it would not revise its forecasts for the G20, citing a variety of offsets to the expected windfalls.
“For the G20 economies, we expect GDP growth of just under 3.0 percent each year in 2015 and 2016, unchanged from 2014 and from our November 2014 Global Macro Outlook,” the credit ratings agency said in its latest outlook report.
“In the euro area, Japan and Brazil, and some other net oil importers in the G20, the fall in oil prices takes place in an unfavourable economic environment,” said Marie Diron, Moody’s senior vice president for credit policy.
Low oil prices normally help grease the wheels of business and spur global economic growth, but Moody’s said Wednesday it would not revise its forecasts for the G20, citing a variety of offsets to the expected windfalls.
“For the G20 economies, we expect GDP growth of just under 3.0 percent each year in 2015 and 2016, unchanged from 2014 and from our November 2014 Global Macro Outlook,” the credit ratings agency said in its latest outlook report.
“In the euro area, Japan and Brazil, and some other net oil importers in the G20, the fall in oil prices takes place in an unfavourable economic environment,” said Marie Diron, Moody’s senior vice president for credit policy.
