IMF Forecast: Global GDP Growth to drop, India’s inflation to drop by 4% next year

12 October 2022
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IMF Forecast: Global GDP Growth to drop, India’s inflation to drop by 4% next year

International Monetary Fund, IMF Forecast: The International Monetary Fund made predictions that India’s global growth will drop from 6% in 2021 to 3.2 % in 2022 and 2.7 % in 2023. With the exception of the global financial crisis and the pandemic’s severe phase, the IMF’s growth projections indicate that this will be the weakest growth since 2001.

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IMF Forecast: Global GDP Growth to drop:

• The three biggest economies in the world—the US, China, and the Euro area—were predicted to remain stagnant.
• According to the IMF’s World Economic Outlook 2022 study, India will have the world’s fastest-growing big economy.
• The International Monetary Fund (IMF) revised its prediction for India’s GDP growth to 6.8% for the fiscal year 2023, predicting that the country will still be on course to rank among the world’s fastest-growing economies.

IMF Forecast: India’s inflation to drop by 4% next year

• The International Monetary Fund (IMF) anticipates that India’s inflation will decline to a range of 4% next year. According to the report, global inflation would probably reach a peak this year of 9.5 percent before declining to 4.1 percent by 2024.
• The IMF however cautioned that a severe economic downturn is still to come and that many people will perceive 2023 as a recession.

Important Takeaways for All Competitive Exams:

• IMF Chairman and MD: Kristalina Georgieva
• IMF Headquarters: Washington, D.C., United States