IMF cuts global growth forecast; expects India’s GDP at 7.5% in FY20


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The International Monetary Fund (IMF) has trimmed its forecast for the global economic growth for 2019 and 2020; however, it hikes projection for India’s economic growth by 10 basis points to 7.5% for FY20.


The global growth forecast has been trimmed for 2019 by 0.2 percentage points and for 2020 by 0.1 percentage points below last October’s projections to 3.5% and 3.6%, respectively. This is on the back of weaker performance in some economies, notably Europe and Asia, amid trade wars, said IMF in its update of the flagship World Economic Outlook released in Davos.



However, India’s GDP is expected to expand 7.5% in FY20 and 7.7% in FY21. The FY20 forecast has been raised by 0.1 percentage point from the projected outlook in October 2018.



“India’s economy is poised to pick up in 2019, benefiting from lower oil prices and a slower pace of monetary tightening than previously expected, as inflation pressures ease,” the IMF said.

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