The world’s leading institution, the International Monetary Fund (IMF), on Tuesday has made a new estimate regarding India’s GDP growth rate. While alerting, IMF has said that India’s GDP growth rate may decline from 8.2 percent in 2023 to 7 percent in 2024 and 6.5 percent in 2025. Explaining the reason for this, the International Monetary Fund said that this will happen because the demand accumulated during Covid has evaporated as the economy is reconnecting to its capacity. On the world economy, the IMF said the fight against inflation has been largely won, even though price pressures persist in some countries, PTI reported.
The world economy will remain stable
According to the news, after reaching a peak of 9.4 percent year-on-year in the third quarter of 2022, the peak inflation rate is now projected to reach 3.5 percent by the end of 2025, which is below the average level of 3.6 percent between 2000 and 2019. is below. The annual World Economic Outlook forecasts global economic growth to remain stable at 3.2 percent in 2024 and 2025, although some countries, particularly low-income developing countries, have seen a significant decline in growth.
GDP growth will decrease in financial year 2024-25
In the World Economic Outlook, the IMF said that according to the latest Economic Survey, GDP growth in the financial year 2024-25 is expected to decline from 8.2 percent in 2023-24 to 6.5 to 7 percent. According to French economist and IMF chief economist Pierre-Olivier Gourinchas, the global economy remained unusually resilient during the inflationary process. He said growth is projected to remain stable at 3.2 percent in fiscal years 2024 and 2025, but some low-income and developing economies have seen a significant deceleration in growth, often linked to escalating conflicts.
What did you say about the world’s biggest economy?
Growth in the United States is strong, at 2.8 percent this year, but will return to potential in 2025. For advanced European economies, modest growth is expected next year, with output approaching capacity. He said the growth outlook in emerging markets and developing economies is very stable, at about 4.2 percent this year and next, with continued strong performance from emerging Asia. Despite the good news on inflation, downside risks are rising and are now dominating the scenario.
