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Economic slowdown is temporary, says Pradhan

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Union Minister Dharmendra Pradhan on Sunday said the current economic slowdown is “temporary” and a result of the ongoing global trade war between the U.S. and China.

The fall in the GDP growth during the second quarter of the current fiscal is “cyclical in nature” and the economy has started moving in the right direction, he said.

“The slowdown in the economy is not because of domestic reasons but the ongoing trade war between the US and China,” Mr. Pradhan told reporters here.

The Petroleum Minister said the trade-tension between the two large economies has adversely impacted seveal countries.

Asked about the dip in GDP growth to 4.5% in the July-September period of 2019, Mr. Pradhan said it was also the impact of the trade war and the issues relating to oil and other commodities in the world market.

“It is natural and cyclical in nature”, he said.

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Printable version | Dec 7, 2019 11:42:20 AM | https://www.thehindu.com/news/national/economic-slowdown-is-temporary-says-pradhan/article30134522.ece

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