NEW DELHI: The International Monetary Fund (IMF) on Tuesday cut its economic growth forecast for India to 6.8% for 2022.
This is a sharp cut from the previous forecast of 7.4% it made in July.
In its latest annual World Economic Outlook released on Tuesday, the IMF said the cut outlook reflected a weaker-than-expected flourish in the second quarter and a further drop in external demand. .
Meanwhile, the IMF report issued a warning to the world’s major economies and suggested that global growth is expected to continue to slow next year.
“The worst is yet to come and, for many, 2023 will look like a recession,” said IMF economic adviser Pierre-Olivier Gourinchas.
Global growth is forecast to slow from 6% in 2021 to 3.2% in 2022 and 2.7% in 2023. This is the weakest growth since 2001, excluding the financial crisis. global and the acute phase of the Covid-19 pandemic.
This is a sharp cut from the previous forecast of 7.4% it made in July.
In its latest annual World Economic Outlook released on Tuesday, the IMF said the cut outlook reflected a weaker-than-expected flourish in the second quarter and a further drop in external demand. .
Meanwhile, the IMF report issued a warning to the world’s major economies and suggested that global growth is expected to continue to slow next year.
“The worst is yet to come and, for many, 2023 will look like a recession,” said IMF economic adviser Pierre-Olivier Gourinchas.
Global growth is forecast to slow from 6% in 2021 to 3.2% in 2022 and 2.7% in 2023. This is the weakest growth since 2001, excluding the financial crisis. global and the acute phase of the Covid-19 pandemic.
