{"id":7407,"date":"2020-04-05T16:08:07","date_gmt":"2020-04-05T10:38:07","guid":{"rendered":"https:\/\/triumphias.com\/blog\/?p=7407"},"modified":"2020-04-05T16:08:22","modified_gmt":"2020-04-05T10:38:22","slug":"world-economic-outlook","status":"publish","type":"post","link":"https:\/\/triumphias.com\/blog\/world-economic-outlook\/","title":{"rendered":"World Economic Outlook 2020"},"content":{"rendered":"<p><span style=\"color: #0000ff;\"><strong>Relevance: Prelims: International Institutions and Indexes<\/strong><\/span><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Context<\/strong>:\u00a0<strong>IMF released the World Economic Outlook (WEO) 2020<\/strong><\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.imf.org\/~\/media\/Images\/IMF\/Publications\/WEO\/2020\/January\/weo-map-jan20-social.ashx?h=1080&amp;w=1920&amp;la=en\" alt=\"World Economic Outlook Update, January 2020: Tentative ...\" \/><\/p>\n<p><span style=\"text-decoration: underline; color: #ff0000;\"><em><strong>\u00a0<\/strong><strong>What Is World Economic Outlook (WEO)?<\/strong><\/em><\/span><\/p>\n<p>The World Economic Outlook\u00a0(WEO)\u00a0is a report <strong>by the International Monetary Fund<\/strong>\u00a0that analyzes\u00a0key parts\u00a0of the IMF&#8217;s surveillance of economic developments and policies in its member countries. It also projects\u00a0developments in the global financial markets and economic systems.<\/p>\n<p><span style=\"color: #ff0000;\"><strong>The WEO is usually prepared twice a year and is used in meetings of the International Monetary and Financial Committee.<\/strong><\/span><\/p>\n<p><span style=\"text-decoration: underline; color: #ff0000;\"><em><strong>KEY TAKEAWAYS<\/strong><\/em><\/span><\/p>\n<ul>\n<li>The World Economic Outlook (WEO) is an IMF report that provides analysis and forecasts of economic developments and policies in its member countries.<\/li>\n<li>The report encapsulates state of the global economy and highlights risks and uncertainty that threaten growth.<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline; color: #ff0000;\"><em><strong>Understanding World Economic Outlook (WEO)<\/strong><\/em><\/span><\/p>\n<p>The World Economic Outlook\u00a0(WEO) presents the IMF&#8217;s analysis and projections of global economic developments and classifies their analysis by region and stage of economic development. This report is the main instrument of disseminating the findings and\u00a0analysis\u00a0of their global surveillance activities to the world.<\/p>\n<p><span style=\"text-decoration: underline; color: #ff0000;\"><em><strong>INDIAN CONTEXT<\/strong><\/em><\/span><\/p>\n<p>The International Monetary Fund has slashed its estimate on India\u2019s 2019 economic growth to 4.8% from the 6.1% expansion it projected in October, citing a sharper-than-expected slowdown in local demand and stress in the non-bank financial sector.<\/p>\n<p>The steep cut in India\u2019s growth rate has weighed on IMF\u2019s projection on the world economy, which it now expects to have expanded 2.9% in 2019 compared with the previous forecast of 3.0%.<\/p>\n<p><span style=\"color: #ff0000;\"><strong>The IMF\u2019s World Economic Outlook (WEO) Update revised India\u2019s 2020 growth forecast to 5.8%, down 0.9 percentage point from the previous estimate. For 2021, the estimate is 6.5%.<\/strong><\/span><\/p>\n<p><strong>The markdown has been the highest for India in the latest WEO projections.<\/strong><\/p>\n<p>The report cited monetary and fiscal stimulus, along with its expectation of subdued oil prices, for the projected improvement in India\u2019s growth this year and the next.<\/p>\n<p><span style=\"text-decoration: underline; color: #ff0000;\"><em><strong>GLOBAL SCENARIO<\/strong><\/em><\/span><\/p>\n<p><span style=\"color: #008080;\"><strong>Globally, growth is expected to accelerate to 3.3% in 2020 from 2.9% in 2019 and further to 3.4% \u00a0in 2021. The IMF has trimmed its estimate on the world economy by 0.1 point each for 2019 and 2020 and by 0.2 percentage point for 2021 from the earlier forecasts.<\/strong><\/span><\/p>\n<p><strong>The WEO estimates China to have grown 6.1% in 2019. For the current year, the forecast is for 6% growth.<\/strong><br \/>\nFor the emerging markets, the report cautioned that improvement from reform efforts could fail to materialise in the face of intensifying social unrest that reflect the erosion of trust in established institutions and lack of representation in governance structures.<\/p>\n<p>In terms of policy, the report suggested governments to enhance inclusiveness and build governance structures that strengthen social cohesion and ensure adequate safety nets to protect the vulnerable.<\/p>\n<p>The government\u00a0has over the past few months taken several steps to lift growth, including a cut in corporate tax rates, a real estate fund for stressed housing projects and a national infrastructure pipeline. It is expected to announce another set of measures to arrest the slowdown in the upcoming budget, to be presented on February 1.<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #0000ff;\"><strong>For more such notes, Articles, News &amp; Views Join our Telegram Channel.<\/strong><\/span><\/p>\n<p><a title=\"Telegram Link\" href=\"https:\/\/t.me\/triumphias\" target=\"_blank\"><span style=\"color: #ff0000;\"><strong>https:\/\/t.me\/triumphias<\/strong><\/span><\/a><\/p>\n<p><span style=\"color: #0000ff;\"><strong>Click the link below to see the details about the UPSC \u2013Civils courses offered by Triumph IAS.<\/strong> <\/span><span style=\"color: #ff0000;\"><strong><a style=\"color: #ff0000;\" title=\"Courses available\" href=\"https:\/\/triumphias.com\/pages-all-courses.php\">https:\/\/triumphias.com\/pages-all-courses.php<\/a><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Relevance: Prelims: International Institutions and Indexes Context:\u00a0IMF released the World Economic Outlook (WEO) 2020 \u00a0What Is World Economic Outlook (WEO)?<\/p>\n","protected":false},"author":1,"featured_media":6631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[123],"tags":[392],"class_list":["post-7407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-union-public-service-commission-upsc"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/7407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/comments?post=7407"}],"version-history":[{"count":2,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/7407\/revisions"}],"predecessor-version":[{"id":7410,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/7407\/revisions\/7410"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/media\/6631"}],"wp:attachment":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/media?parent=7407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/categories?post=7407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/tags?post=7407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}