Washington, Pretr. The situation in India is improving rapidly after the loss caused by Kovid. There is good news for India in the coming days. The International Monetary Fund (IMF) has projected India’s economy to be the fastest growing in the world in 2022. According to the latest projections released by the IMF on Tuesday, the Indian economy is expected to grow at 9.5 percent in 2021 and 8.5 percent in 2022, while in the US this rate may be up to 5.2 percent in 2022 and 5.6 percent in China. . The special thing is that except India and Spain, this growth rate has not been estimated to go above 6 percent in any other country. A top official of the International Monetary Fund said that India is doing well in vaccinating its people for Kovid. It will definitely prove helpful for his economy.
India’s growth projections held steady over previous estimates
It is to be known that the Indian economy had declined by 7.3 percent during the financial year 2020-21. The IMF’s latest World Economic Outlook (WEO) has kept India’s growth projections stable at the previous estimate released in July this year, though it is 1.6 per cent lower than the April estimates.
According to the latest WEO released ahead of the annual meeting of the EMF and the World Bank, the global growth rate has been projected to be 5.9 percent in 2021 and 4.9 percent in 2022. At the same time, the US economy is projected to grow at the rate of six per cent this year and 5.2 per cent next year. According to these forecasts, China’s economy is expected to grow by eight percent in 2021 and 5.6 percent in 2022.
IMF Projections: 2022
— IMF (@IMFNews)
October 12, 2021
Indian economy boomed again after the second wave of Kovid
IMF Chief Economist Gita Gopinath said the global growth forecast for 2021 has been marginally revised to 5.9 per cent compared to her July forecast. For 2022, it remains unchanged at 4.9 per cent. We do not have any change in the growth forecast for this year for India. I mean India came out of a very tough second wave and there was a big drop in the month of July but there is no change in its growth projections.
IMF forecast for 2022
UK : 5%
KSA : 4.8%
South Africa: 2.2%