What is World Economic Outlook report released?

Question

Asked: October 19, 20212021-10-19T17:08:20+05:30 2021-10-19T17:08:20+05:30In: Economics

World Economic Outlook report released.

[Deleted User] · Answer 1 · 2021-10-19T17:11:37+05:30

Context:

World Economic Outlook October 2020 report titled, “A Long and Difficult Ascent” was recently released.

Released by: International Monetary Fund
According to the report, Global output is projected to shrink 4.4% in 2020.
After 2021, global growth is expected to be moderate at 3.5% in the medium term. India’s economy is expected to contract 10.3% in the current fiscal year due to the COVID-19 pandemic.
There will be a downgrade of 5.8 percentage points from its June forecast.
It is expected to rebound in April 2021 with 8.8% growth — an upgrade of 2.8% compared to the June update.
Consumer prices are expected to grow at 4.9% in 2020 and by 3.7% in 2021.
The current account balance is projected to grow by 0.3% in 2020 and -0.9% in 2021.