IMF: World Economic Outlook
On June 24, 2020, the International Monetary Fund projected a sharp decline in the growth of Indian Economy. According to the IMF, the Indian economy is to contract by 4.5%.
Highlights
According to IMF, though India’s growth is to decline, the country will bounce back in 2021 with a growth rate of 6%.
Global Projections
According to the report, the IMF has projected the global growth of the world -4.9% in 2020.
The advanced economies are to face a downturn of -8% and the developing economies are to contract by -3%. The IMF reports that, if China excluded the developing economies will face a downturn of -5%. Around 95% of the countries are to have negative per capital income growth in 2020-21.
Key findings
The report says that export dependent countries are to be greatly affected. According to the report, growth of China is projected at 1% in 2020
World Economic Outlook
The report analyses key policies and economic developments of its member countries. It is prepared twice a year.
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Month: Current Affairs - June, 2020