The IMF identifies escalating oil prices, driven by a widening Middle East conflict, and a weak monsoon from El Nino as primary risks to India's 2026/27 GDP growth. India, importing nearly 80% of its oil, is highly vulnerable to energy shocks that could fuel inflation and hinder economic expansion. The Fund recently cut India's FY27 growth forecast to 6.4%, with crude prices briefly exceeding $90 a barrel last week. This global economic uncertainty and potential for higher oil prices could support international gold as a safe haven, while also impacting Pakistan's import costs and the PKR.
بحوالہ / Source: www.brecorder.com