GLOBAL ECONOMIC PROSPECTUS REPORT
- January 6, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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GLOBAL ECONOMIC PROSPECTUS REPORT
Subject : International Report
Context : Global economic output is projected to grow by 4% in 2021 assuming widespread roll-out of a COVID-19 vaccine throughout the year, as per the World Bank’s Global Economic Prospects (GEP) report.
Concept :
- This projection is still 5% below pre-pandemic levels. India is expected to grow at 5.4% in fiscal year 2021-22 and 5.2% in fiscal 2022-23 after an expected contraction of 9.6% in fiscal 2020-21.
About the Report
- The World Bank produces the GEP twice a year, in January and June, as part of its in-depth analysis of key global macroeconomic developments and their impact on member countries.
- The GEP provides intelligence in support of achieving development goals and is a trusted resource for member countries, stakeholders, civil organizations and researchers.