Published:Friday | March 18, 2016
Despite all indications that the world may be headed for another global recession, Minister of State in the Ministry of Finance and Planning Fayval Williams has said it is too soon to worry about such a prospect.
“Yes, we acknowledge that in the major economies, growth is slow, China growth is slowing, the United States is holding on, India is there doing its part in terms of global growth, and we are going to be looking for the opportunities wherever they exist across the globe, but I think it is too early to be worried about a global recession,” she said in an interview with The Gleaner.
The International Monetary Fund (IMF) in January cut the global growth forecast for the next two years by 0.2 per cent, noting that recovery efforts may be derailed.
Commenting on the impact that global conditions could have on the growth plans of the new Government, Williams focused on developments in China, noting that the actions taken by the Chinese to manage the slowdown in growth are a positive sign.
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