Moody's Says Energy Costs May Strain India Fiscal Account
Moody's warns energy disruptions will widen India's trade deficit and strain fiscal accounts. The agency cut its 2027 growth forecast to 6% as crude costs rise.
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A sustained interruption in energy supplies threatens to expand the trade deficit and pressure the fiscal stability of India, according to a new report from MOODY'S CORP. As the world's fastest-growing major economy, the nation faces significant headwinds from volatile global commodity markets.
The price of Brent Crude Oil has surged by 31% since the conflict involving the United States, Israel, and Iran began on February 28. These prices have continued to fluctuate based on geopolitical developments, even as global markets attempt to recover on hopes of eventual peace.
