The International Monetary Fund(IMF) has released the World Economic Outlook Report.

Recent Context:

• Recently, The World Economic Outlook 2022 by IMF has been published and cut its forecast for India’s Gross Domestic Product (GDP) growth in FY 2022-23 to 8.2%, making it the fastest-growing major economy in the world, almost twice faster than China’s 4.4 %.

Key Findings:

• It has also lowered India’s growth projection by 0.8 % points for 2022-23 from its previous forecast (9%) for the same period in 2021.
• In 2021, India registered a growth rate of 8.9 %.
• In 2023-24, India is estimated to grow at 6.9 %.
• The IMF has projected global growth at 3.6 % in 2022 and 2023, 0.8 and 0.2 % lower than in the January 2022 forecast, respectively

Reports by IMF:

• Global Financial stability report
• World Economic outlook