Korean war, Middle East strife threats to global growth: Economic Survey

New Delhi Jan 29 (IANS) The Economic Survey 2017-18 has listed out geo-political and geo-economic risks like the tensions in the Korean peninsula and the surge in oil prices due to Saudi Arabian oil company Aramco s listing which may affect growth on the global level.

The Survey tabled in Parliament on Monday by Finance Minister Arun Jaitley stated: "What are the risks? Of course there are the usual geo-political and geo-economic risks: war in the Korean peninsula political upheaval in the Middle East aggressive output cuts by Saudi Arabia (and Russia) in advance of the planned listing of the Saudi Arabian oil company Aramco which could force oil prices even higher " the Survey highlighted.

"A final reckoning from China s unprecedented credit surge in the form of capital controls slowdown in growth and a sharply depreciating currency with consequences for the global economy; and trade tensions that could lead to skirmishes and then spiral out of control " it added.

The Survey said according to the International Monetary Fund (IMF) the global economy is currently experiencing a near-synchronous recovery -- the most broad based recovery since 2010.

"In 2017 roughly three-quarters of countries experienced improvements in their growth rates the highest share since 2010 " the Survey added.

--IANS
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