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LATEST NEWS UPDATES | India only key nation with double-digit growth in FY22: IMF

India only key nation with double-digit growth in FY22: IMF

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published Published on Jan 27, 2021   modified Modified on Jan 27, 2021

-The Indian Express

In its latest World Economic Outlook Update, released Tuesday, the IMF predicted that China would grow 8.1 per cent in 2021, followed by Spain (5.9 per cent) and France (5.5 per cent).

The Indian economy will stage a strong rebound and grow as much as 11.5 per cent on year in FY22, the International Monetary Fund (IMF) said on Tuesday, revising up its earlier forecast of an 8.8 per cent expansion.

With this, India will emerge as the only key nation to record a double-digit growth and reclaim the status of the world’s fastest-growing major economy, it added. India’s real gross domestic product (GDP) shrank as much as 8 per cent in FY21 due to the Covid-19 pandemic, the multilateral body said. In FY23, the economy will likely grow 6.8 per cent, it added.

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The Indian Express, 27 January, 2021, https://indianexpress.com/article/world/imf-projects-impressive-11-5-per-cent-growth-rate-for-india-in-2021-7162652/


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