The credit worthiness outlook for countries in the Asia-Pacific (APAC) region, including that of India, for 2023 is stable as compared to the negative outlook for sovereigns globally, Moody's Investors Service said on Monday.
The debt sustainability and financial stability are relatively well anchored in the region, with contained government liquidity risks, broadly stable debt dynamics and generally sound external positions, the credit rating agency said in a report.
Gross domestic product (GDP) growth will stabilise close to potential levels and outperform other regions, despite higher global inflation and tighter financial conditions, it said, while adding that most sovereigns have begun fiscal consolidation, but social pressures are slowing progress.
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