India has a zero possibility of witnessing a recession, unlike several other Asian countries, a recent survey report by Bloomberg has revealed.
According to the report, India’s neighbor Sri Lanka - which is already facing a major economic crisis and currency devaluation due to political unrest - has an almost-85 percent risk of registering consecutive negative growth.
It is followed by New Zealand with a 33 percent risk, and South Korea and Japan at 25 percent each.
India's neighboring Pakistan and China carry a 20 percent risk of recession, alongside Australia.
India Has Zero Possibility of Slipping Into Recession Than Other Asian Countries, Survey Shows
© Photo : Twitter
Asia's overall recession risk stands at 20-25 percent, compared to 45 percent for the US and 50-55 percent for the European Union.
Surging energy prices have hit countries such as Germany and France the hardest, with a spillover impacting the rest of that region, Steven Cochrane, chief Asia-Pacific economist at Moody's Analytics Inc, said in a media statement.