The pace of the economy around the world is expected to remain stable this year. Rating agency Fitch Ratings has given this information in its Global Economic Outlook report for March 2026. The report states that if the recent surge in crude oil prices does not last long, the pace of world growth will remain at 2.6 percent. There is very good news in this report for India, because India’s GDP growth estimate for the current financial year has been increased to 7.5 percent.
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What will be the impact of crude oil prices?
According to Fitch’s Chief Economist Brian Coulton, there is a lot of fluctuation in the price of crude oil due to the tension in the Middle East. At the end of February it had reached around $90 per barrel. The agency has increased the average price of crude oil for 2026 from $63 to $70 per barrel. This estimate has been made on the basis that the Strait of Hormuz will remain closed for about a month and oil prices will again come back to around $60 in the second half of the year.
The report has also warned about a danger. If the price of crude oil reaches $ 100 per barrel and remains there, then the world GDP may decline by 0.4 percent. Apart from this, inflation in big countries like America and Europe will increase further by 1.2 to 1.5 percent.
What is the forecast of growth of major countries of the world?
Fitch Ratings has also released new estimates of the economy of different countries. Due to increasing investment in AI in America, growth is expected to be 2.2 percent. At the same time, due to less spending by people in China and decrease in exports, the growth may fall to 4.3 percent. India’s economy is currently the fastest growing in the world.
Country or Region Growth Estimates to 2026 World (Global) 2.6% India (India) 7.5% China (China) 4.3% America (US) 2.2% Europe (Eurozone) 1.3%
Apart from this, it has also been told that the Central Bank of America (US Federal Reserve) will keep an eye on oil prices and may cut interest rates twice this year. With this, common people are expected to get some relief in repaying their loans.