InvestorQ : What are the highlights of the latest World Economic Outlook presented by the IMF?
diksha shah made post

What are the highlights of the latest World Economic Outlook presented by the IMF?

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shrinidhi Rajan answered.
7 days ago


Here are some highlights of what the IMF announced as part of the World Economic Outlook on 13 October. Most of the key announcements were made in a press conference by Gita Gopinath, chief economist, IMF.

· The IMF World Economic Outlook has projected India’s GDP contraction to worsen from -9.6% as originally estimated to -10.3% for FY21.

· The next year, however, could be a good year and this contraction is likely to be followed up with positive growth of +8.8%.

· On the global GDP front, IMF has projected global GDP to contract by -4.4%. This is likely to be largely led by countries like the US and India.

· The world largest economy, the US economy, is estimated to contract by -5.8% in 2020. However, the US economy is also estimated to bounce back with +3.9% growth in 2021.

· IMF has reported that China would be the only major economy in the world to show positive growth at +1.90% in calendar year 2020.

· According to the IMF, Indian economy will see the lag effect of a longer than essential lockdown, labour shortages, supply side constraints and climate effects during the year.