INDIA STEADY AMID FRESH BOUTS OF MARKET TURMOILS
MID-YEAR OUTLOOK SHOWS GLOBAL GROWTH SLOWING
2015-07-10 15:18
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Global financial markets turned turbulent in the first week of July with Greece facing a chaotic exit from the Euro-Zone and a more ominous rout in China's stocks, defying authorities' repeated interventions to stabilise market and preserve growth at around 7 per cent. These two new risks spreading panic to markets around the world have already led to a mark-down of global growth to 3.3 per cent in 2015 while IMF hopefully projects stronger recovery to 3.8 per cent in 2016, in its latest Outlook Update.