AIRLINK 60.70 Decreased By ▼ -0.27 (-0.44%)
BOP 6.30 Increased By ▲ 0.01 (0.16%)
CNERGY 4.39 Increased By ▲ 0.06 (1.39%)
DFML 16.19 Increased By ▲ 0.33 (2.08%)
DGKC 70.20 Increased By ▲ 0.90 (1.3%)
FCCL 18.02 Decreased By ▼ -0.18 (-0.99%)
FFBL 26.50 Increased By ▲ 0.25 (0.95%)
FFL 9.25 Increased By ▲ 0.02 (0.22%)
GGL 10.30 Increased By ▲ 0.05 (0.49%)
HBL 115.00 Decreased By ▼ -2.00 (-1.71%)
HUBC 115.55 Increased By ▲ 1.07 (0.93%)
HUMNL 7.08 Increased By ▲ 0.15 (2.16%)
KEL 5.00 Increased By ▲ 0.11 (2.25%)
KOSM 5.45 Increased By ▲ 0.12 (2.25%)
MLCF 38.83 Increased By ▲ 0.33 (0.86%)
OGDC 125.61 Increased By ▲ 1.64 (1.32%)
PAEL 21.90 Increased By ▲ 0.05 (0.23%)
PIAA 12.80 Increased By ▲ 1.00 (8.47%)
PIBTL 6.22 Increased By ▲ 0.12 (1.97%)
PPL 116.50 Increased By ▲ 2.75 (2.42%)
PRL 28.36 Increased By ▲ 0.06 (0.21%)
PTC 12.25 Increased By ▲ 0.80 (6.99%)
SEARL 52.25 Decreased By ▼ -0.05 (-0.1%)
SNGP 67.70 No Change ▼ 0.00 (0%)
SSGC 11.44 Increased By ▲ 0.11 (0.97%)
TELE 8.23 Increased By ▲ 0.38 (4.84%)
TPLP 11.62 Increased By ▲ 0.04 (0.35%)
TRG 72.00 Increased By ▲ 0.19 (0.26%)
UNITY 24.05 Increased By ▲ 0.95 (4.11%)
WTL 1.35 Increased By ▲ 0.06 (4.65%)
BR100 6,770 Increased By 53.5 (0.8%)
BR30 22,884 Increased By 366.7 (1.63%)
KSE100 65,721 Increased By 395.7 (0.61%)
KSE30 22,326 Increased By 180.2 (0.81%)

Goldman Sachs Chief Executive Officer David Solomon said India now had a very high growth trajectory, with a predicted growth of 6-7% over the next three years, the Economic Times reported on Wednesday.

Global CEOs are thinking about India as a big growth opportunity while recognizing some of the challenges with investing in the country, Solomon told the newspaper in an interview.

Solomon said over the period of a year, the global economy, and the United States in particular, have been “more resilient” than he would have expected, adding that there could be a period with “0-1% growth and 4% inflation – that will feel like a recession”.

There are significant macro signs to indicate slowing growth in the world, and it was hard to see a scenario where US inflation goes back to 2% “anytime soon,” Solomon said.

“There are a bunch of significant macro trends that are inflationary, such as geopolitics, energy transition and supply chain adjustments — there are headwinds.”

After the US regional banking crisis that followed Silicon Valley Bank’s collapse in March, Federal regulators and the Treasury Department welcomed a decision by 11 larger banks to deposit $30 billion into First Republic Bank.

Goldman Sachs was one of the banks involved in the rescue.

Solomon said the regional banking crisis was short term, affecting a handful of banks with very specific business models.

But the banking system in the US is dealing with a handful of issues which will ultimately require more capital, triggering more consolidation, he told ET.

Comments

Comments are closed.

Tulukan Mairandi Jun 28, 2023 04:16pm
He also said our glorious Pakistan has high growth trajectory. I.e. growth in debt, default chances, poverty, population, refugees and unemployment.
thumb_up Recommended (0)