IMF trims growth rate

IMF trims growth rate

According to the World Economic report released on 15th October, the downgrading global growth in 2019 was 3%, the slowest since the financial crisis of 2008. The 2019 report states the Global Manufacturing Downturn, Rising Trade Barriers.

Key Points:

• The growth of advanced economies is projected to slow down by 1.7%.
• China's economy is now expected at 6.1% this year, instead of the 6.2% which was previously forecasted.
• India’s growth projections have also been downgraded to 6.1% and 7% in 2019 and 2020,

• India’s growth down by 1.2 percentage points and 0.5 percentage point relative to April projections, owing to weaker than expected domestic demand.

• By 2020 India is projecting 7 per cent growth recover.