Legal Blog
Read Delete: 2022’s High Growth Economies
2022’s High Growth Economies
India’s GDP grew by 4.1 percent in the first three months of 2022, slightly truncating annual growth in 2021-22 to 8.7 percent due to Omicron restrictions putting a damper on economic activity in this last quarter of the Indian fiscal year. In Q1 of the new fiscal year (April to June), growth was back to 13.5 percent.
In terms of the big picture, Indian GDP growth is also still doing quite well on a global scale, and the country is expected to surpass Japan as Asia’s second-largest economy by 2030.
The IMF has forecast India’s GDP growth of 6.8 percent in 2022. As many countries have been downgraded in this week’s release by the organization, so was India. In April, the IMF had still projected a growth of 8.2 percent for the country. However, this still places India in the top 10 of the fastest growing economies in the world (out of those with GDPs of $20 billion or more), albeit in rank 9, down from rank 4 in April. Counting all countries, even small island nations, India comes 20th.
Guyana was named the fastest-growing economy in both forecasts by the IMF. The sparsely populated country is growing thanks to new oil exploitation projects. Ireland’s growth was also revised upwards drastically. Still, the small nation’s GDP is notoriously volatile due to the many multinationals headquartered there, which are taking advantage of favorable tax codes within the EU.
Source: Statista
Do you want to vet a business opportunity? Is there an anticipated commercial dispute? Is a second legal opinion warranted? Grab 15 minutes with me, and I will work with you to understand your situation and provide my thoughts based upon successfully representing business owners for almost 25 years. You will receive a confirmation with a Teams Meeting invitation after you pick a time for our discussion. You can also reach out to me at mmercurio@offitkurman.com.
Have an interesting, fast fact for a business audience? Please send and share it with our 1,600+ subscribers. Click here to subscribe to Read Delete and receive fast facts delivered weekly.
ABOUT MIKE MERCURIO
Mike Mercurio | mmercurio@offitkurman.com | 301-575-0332
Michael N. Mercurio is a leading attorney in the field of mergers and acquisitions (M&A). He serves as outside general counsel in buy-side and sell-side M&A, as well as in all business law and real estate law matters. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on the many challenges, issues, and opportunities companies face throughout the business lifecycle—from start-up to eventual exit.
ABOUT OFFIT KURMAN
Offit Kurman, one of the fastest-growing, full-service law firms in the United States, serves dynamic businesses, individuals and families. With 18 offices and more than 250 lawyers who counsel clients across more than 30 areas of practice, Offit Kurman helps maximize and protect business value and personal wealth by providing innovative and entrepreneurial counsel that focuses on clients’ business objectives, interests and goals. The firm is distinguished by the quality, breadth and global reach of its legal services and a unique operational structure that encourages a culture of collaboration. For more information, visit www.offitkurman.com.
DELAWARE | MARYLAND | NEW JERSEY | NEW YORK | NORTH CAROLINA | PENNSYLVANIA |SOUTH CAROLINA | VIRGINIA | WASHINGTON, DC
