Fitch Ratings has cut the GDP-weighted average potential growth for 10 key EMs to 3.9 per cent from 4.0 per cent, mainly due to China’s downgrade to 4.3 per cent.
Mexico, Indonesia, and Korea also saw downward revisions, while India, Brazil, Russia, and Poland received upgrades.
India’s pandemic scarring was reduced to 5.4 per cent.
South Africa and Turkiye estimates remain unchanged.