India’s economy is expected to grow by 9.5% in 2021 and 8.5% in 2022, the International Monetary Fund predicted in its World Economic Outl...
India’s economy is expected to grow by 9.5% in 2021 and 8.5% in 2022, the International Monetary Fund predicted in its World Economic Outlook report on Tuesday.
The International Monetary Fund’s projections about India remain the same as those made in its previous report released in July. In April, however, the global financial institution had predicted that India’s economy will grow by 12.5% in 2021 and 6.9% in 2022.
India’s Gross Domestic Product had contracted by 7.3% in 2020-’21.
International Monetary Fund’s chief economist Gita Gopinath told reporters that India is “doing well” in terms of vaccination rates and said that this will help in economic growth, PTI reported.
She added that the downgrade from April to July was on account of a “very, very tough second wave” of the coronavirus pandemic in India.
Meanwhile, the International Monetary Fund has predicted that the United States’ economy will grow by 6.0% in 2021 and 5.2% in 2022. It also projected China’s economic growth at 8.0% in 2021 and 5.6% in 2022.
🆕 The IMF projects the global economy to grow at 5.9% in 2021 and 4.9% in 2022, 0.1 percentage points lower for 2021 than the July forecast. More in the just-released October 2021 World Economic Outlook. https://t.co/j0FIiCr9li #WEO pic.twitter.com/jQjXB6f8Xm
— IMF (@IMFNews) October 12, 2021
The organisation has predicted that low-income developing countries will grow at...
