Oil importing countries like China, India, Brazil, Turkey, Indonesia and South Africa will be the big winners as oil prices continue to weaken in 2015, the World Bank says in a report. Battered oil prices “creates a window of opportunity for oil importing countries, such as China and India; we expect India’s growth to rise to 7 percent by 2016. What is critical is for nations to use this window to usher in fiscal and structural reforms, which can boost long-run growth and inclusive development,” Kaushik Basu, one of the main authors of the report, and the World Bank Chief Economist, writes in the report published Tuesday.
Posted on: Wed, 14 Jan 2015 00:05:33 +0000
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