The World Economic Outlook (WEO) biennial report was released by the International Monetary Fund (IMF).
The World Economic Outlook (WEO) 2019 report indicates that over the past year, global growth has fallen sharply. For advanced economies, growth is projected to soften to 1.7 percent in 2019 and 2020.
The IMF Report indicates that Global growth in 2020 will improve to 3.4 percent, a downward revision of 0.2 percent from our April projections. IMF releases that this recovery is not broad-based and is precarious, unlike the synchronized slowdown. It also projected a slow for advanced economies to 1.7 percent in 2019 and 2020.
India’s GDP growth will touch a mark of 6.1% in 2019 while it will go up to 7% in 2020.
India’s sharpest cut in the economy is next to Saudi Arabia’s 1.7 percent in 2019 and 2020
The World Economic Outlook (WEO) report suggests that India’s trade volume has reached its lowest level since 2012. Also, It has reduced by 1% since 2012.
The World Economic Outlook (WEO) report highlights that India’s economic growth softened in 2019 because corporate and environmental regulatory uncertainty, together with concerns about the health of the nonbank financial sector, weighed on demand.
Developing economic countries such as Brazil, India, China, Mexico and Russia and some other countries are suffering from macroeconomic and financial stress.