The International Monetary Fund has reviewed downward its global economic growth forecast for 2020 and 2021 due to “bad surprises” in emerging economies, especially India, and the persistence of mainly geopolitical risks.
The global economy is now expected to grow by 3.3% in 2020 and 3.4% in 2021, according to the IMF, which shaved 0.1 and 0.2 points respectively off earlier projections made in October 2019.
This is better than last year, when growth sank to its lowest level since the financial crisis, but still timid, according to the Fund.
It stressed that the 1.2-point review of Indian growth, now expected to be 5.8%, represented the bulk of the reduction of the global growth forecast.
The Brussels Times