WORLD ECONOMIC OUTLOOK

WORLD ECONOMIC OUTLOOK

Subject: International Reports

Context: In its annual World Economic Outlook, the Washington-based global financial institution said that the Indian economy is expected to grow by 6.9 per cent in 2022.

Concept:

• Also, the IMF projected an impressive 12.5 per cent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic.
• In 2020, India’s economy contracted by a record eight per cent.

World Economic Outlook

• WEO is a survey by the IMF that is usually published twice a year in the months of April and October.
• It analyzes and predicts global economic developments during the near and medium term.
• In response to the growing demand for more frequent forecast updates, the WEO Update is published in January and July between the two main WEO publications released usually in April and October.
• IMF also releases Global Financial Stability Report.