7.5% target overly ambitious: Broker

Monday, 23 September 2013 01:13 -     - {{hitsCtrl.values.hits}}

First Capital Equities said the target of 7.5% growth in 2013 was overly ambitious though a moderate 7% would be still among the strongest performance in the world. “The 2Q2013 performance is indeed encouraging, however having grown by 6.0% in 1Q2013, we believe that the Government’s expectation of achieving a 2013 full year GDP growth rate of 7.5% may be overly ambitious and expect annual GDP growth to moderate at the 7.0% levels. This in any case may still be amongst the strongest GDP growth rates in the world,” First Capital Equities said.