HomeEconomyChina received a negative...

China received a negative credit rating outlook

Photo: Getty Images

China’s economy faces growing uncertainty, said Fitch, one of the world’s leading rating agencies.

International rating agency Fitch downgraded its outlook on China’s credit rating to negative. Reuters reported this on Wednesday, April 10.

The agency downgraded its rating (following a similar move by Moody’s in December 2023, – ed..) as Beijing ramps up efforts to bolster the fragile recovery from the COVID-19 pandemic through fiscal and monetary support.

“Fitch’s outlook revision reflects a more challenging environment for China’s public finances, with the dual impact of slowing growth and rising debt,” said a senior economist at Natixis Asia-Pacific.

According to him, this does not mean that China will default in the near future.

Although the agency downgraded its outlook on the ratings from stable to negative, indicating that a downgrade is possible in the medium term, the agency affirmed China’s rating at A+.

Fitch forecasts that China’s economic growth will slow to 4.5% in 2024 from 5.2% last year, while the International Monetary Fund expects China’s GDP to grow by 4.6% this year.

We remind you that earlier the international rating agency Moody’s downgraded Israel’s credit rating for the first time in history.

Named the largest financial center in the world
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

Orban announced the results of the anti -ukrainian “referendum”

The stated number of referendum participants is...

Trump claims that the administration was stuck with Iranian officials who will be accused of a nuclear program

US President Donald Trump said his administration will meet with Iranian officials next week to discuss his nuclear program. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } This will happen...

The development of the Russian army in the burnt region of Sumi is dedicated to the Sirki

The promotion of Russian troops in the border of the Sumi region, as of this week, was stopped, the combat line is stabilizing. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } ...