Global Growth Projected to Rise in 2020
Following an estimated 2.9% in 2019, the IMF projects global growth of 3.3% in 2020, down from the October projection of 3.4%, according to its latest World Economic Outlook. Meanwhile, growth was forecast at 3.4% for 2021, a 0.2 percentage point downward revision.
The IMF estimates that India’s economy grew by 4.8% in 2019, down 1.3 percentage points from October’s outlook and 2.7 percentage points below the forecast year-ago level. India’s GDP growth in 2020 is projected at 5.8%, down from October’s forecast of 7.0%. By contrast, after experiencing a growth rate of 6.1% in 2019, China’s GDP growth projection for 2020 stands at 6.0%, up 0.2 percentage points on the previous outlook and now anticipated to outpace India.