Първоначално изпратено от Императорът
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A simple breakdown of the MSCI Emerging Market index shows that less than 14% of the countries in the index are net oil exporters. If we focus on the oil importers, we see that 70% of EM countries are sizable importers. The move in the oil price is thus clearly positive for EM in aggregate. However, the benefits of this decline won’t translate directly into a commensurate boost for consumption, many Asian countries enjoy a high savings culture and so spending will rise less sharply. Recent reductions in fuel subsidies in India and Indonesia mean that those countries recently experienced a net small increase in the cost of fuel (despite the fall in oil prices), so no boost to consumption is expected, however, the reforms are a clear long-term positive for those countries’ fiscal positions.
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