In India, a negative growth rate of -8 per cent has been projected for 2020. Other countries with higher negative growth rates than India in 2020 include United Kingdom, Spain, Italy, France, Mexico.
The International Monetary Fund (IMF) has projected an increase in India’s economic growth rate for the years 2021 and 2022. The IMF estimates that India’s economy may get a jump of 11.5 per cent in 2021 and 6.8 per cent in 2022. India is the only country among the major economies amid the Corona epidemic, where the economy will grow in double digits this year.
According to the IMF’s World Economic Outlook report, China will be the second fastest growing economy after India with an estimated growth of 8.3 percent in 2021. In 2022, India’s economy will be ahead of China. India’s global growth rate is estimated to be 6.8 percent, while China’s growth rate may be 5.6 percent.
However, a negative growth rate of -8 per cent has been projected for India in 2020. Other countries with higher negative growth rates than India in 2020 include the United Kingdom (-10 percent), Spain (-11.1 percent), Italy (-9.2 percent), France (-9 percent), Mexico (- 8.5 percent). Huh. At the same time, China is estimated to increase by 2.3 percent.
State of world economy
The global economy is projected to grow 5.5 percent in 2021 and 4.2 percent in 2022 amid the Corona crisis. The 2021 forecast is a 0.3 percent change from the previous forecast. The United States is forecasting Negative growth of -3.4 percent in 2020.
However, it is expected to grow at 5.1 percent in 2021 and 2.5 percent in 2022. Whereas the projected negative growth of the euro area in 2020 is expected to be 7.2 per cent. There may be an increase of 4.2 per cent in 2021 and 3.6 per cent in 2022.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.