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World Economic Outlook report released

  • Posted By
    10Pointer
  • Categories
    Economy
  • Published
    17th Oct, 2020

  • World Economic Outlook October 2020 report titled, “A Long and Difficult Ascent” was recently released.
  • Released by: International Monetary Fund
    • According to the report, Global output is projected to shrink 4.4% in 2020.
    • After 2021, global growth is expected to be moderate at 3.5% in the medium term.
    • India’s economy is expected to contract 10.3% in the current fiscal year due to COVID-19 pandemic.
    • There will be a downgrade of 5.8 percentage points from its June forecast. 
    • It is expected to rebound in April 2021 with 8.8% growth — an upgrade of 2.8% compared to the June update.
    • Consumer prices are expected to grow at 4.9% in 2020 and by 3.7% in 2021.
    • The current account balance is projected to grow by 0.3% in 2020 and -0.9% in 2021.

Verifying, please be patient.