{"id":181887,"date":"2022-04-29T20:37:50","date_gmt":"2022-04-29T15:07:50","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=181887"},"modified":"2022-04-29T20:37:50","modified_gmt":"2022-04-29T15:07:50","slug":"world-economic-outlook-downward-revision-cycle-for-global-economic-outlook-has-begun","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/world-economic-outlook-downward-revision-cycle-for-global-economic-outlook-has-begun\/","title":{"rendered":"World Economic Outlook: Downward revision cycle for global economic outlook has begun"},"content":{"rendered":"\n
What is the News?<\/b><\/h5>\n

The International Monetary Fund(IMF) has released the World Economic Outlook Report.<\/span><\/p>\n

What is the World Economic Outlook Report?<\/b><\/h5>\n

The report is published by the IMF twice a year:<\/b> One each in April and October. It also provides updates to these two reports in January and July.<\/span><\/p>\n

Aim: <\/b>To provide analysis and forecasts of economic developments of member countries and highlight risks and uncertainty.<\/span><\/p>\n

What are the key highlights from the report?<\/b><\/h5>\n
\"\"
Source: IMF<\/figcaption><\/figure>\n

Global Growth:\u00a0<\/b><\/p>\n

Global growth is projected to slow down from an estimated 6.1% in 2021 to 3.6% in 2022 and 2023. This is 0.8 and 0.2% points lower for 2022 and 2023 than in the January World Economic Outlook Update.<\/span><\/p>\n

Reason:<\/b> The downgrade is largely due to 1) the Russia-Ukraine war, 2) sanctions on Russia, 3) Sharper-than-anticipated deceleration in China, 4) renewed flare-up of the pandemic, 5) rising medium-term inflation expectations and 6) ongoing climate emergency.<\/span><\/p>\n

Recommendations<\/b>: Multilateral efforts to respond to the humanitarian crisis, prevent further economic fragmentation, maintain global liquidity, manage debt distress, tackle climate change and end the pandemic are essential.<\/span><\/p>\n

India: <\/b>IMF <\/span>has slashed the growth forecast for India for the current financial year by 80 basis points to 8.2%.<\/span><\/p>\n

With import bills rising due to high commodity and fuel prices, the IMF estimates India\u2019s current account deficit to widen to 3.1% in FY 2022-23 from 1.6% in FY 2021-22.<\/span><\/p>\n

Additionally, deceleration in global growth would also lead to lower demand for Indian exports.<\/span><\/p>\n

Source: <\/b>The post is based on the article<\/span> \u201cWorld Economic Outlook: Downward revision cycle for global economic outlook has begun\u201d <\/b>published in<\/span> Financial Express<\/b> on <\/span>27th April 2022.\u00a0<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

What is the News? The International Monetary Fund(IMF) has released the World Economic Outlook Report. What is the World Economic Outlook Report? The report is published by the IMF twice a year: One each in April and October. It also provides updates to these two reports in January and July. Aim: To provide analysis and… Continue reading World Economic Outlook: Downward revision cycle for global economic outlook has begun<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,164,1305,9],"tags":[10723],"class_list":["post-181887","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-relations-daily-factly-articles","category-index-reports-bodies","category-public","tag-financial-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700798493,"cached_date":1704861457},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/181887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=181887"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/181887\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=181887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=181887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=181887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}