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LATEST NEWS UPDATES | Economy headed for contraction, less fiscal space for big stimulus -P Vaidyanathan Iyer

Economy headed for contraction, less fiscal space for big stimulus -P Vaidyanathan Iyer

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published Published on Apr 22, 2020   modified Modified on Apr 22, 2020

-The Indian Express

If that happens, it won’t be unique to India — the IMF expects the Covid pandemic to severely impact growth across regions in its latest World Economic Outlook. It expects the US economy to shrink 5.9 per cent and the global economy to decelerate 3 per cent.

New Delhi: As the Centre and states jostle over and grapple with strategies for a staggered exit from the lockdown, the country seems — for the first time in 40 years — headed for an economic contraction in 2020-21.

If that happens, it won’t be unique to India — the IMF expects the Covid pandemic to severely impact growth across regions in its latest World Economic Outlook. It expects the US economy to shrink 5.9 per cent and the global economy to decelerate 3 per cent.

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The Indian Express, 22 April, 2020, https://indianexpress.com/article/business/economy/economy-headed-for-contraction-less-fiscal-space-for-big-stimulus-6373356/


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