Global Economic Prospects Report

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‘Global Economic Prospects Report’

Recently the World Bank has released the ‘Global Economic Prospects Report’.

Key findings Global Economic Prospects Report:

The global economic growth rate is expected to decelerate to 4.1% in the year 2022 and 3.2% in the year 2023. It was 5.5% in the year 2021. India’s annual growth rate is estimated to be 8.3 percent in the current financial year, 8.7 percent in the year 2022-23 and 6.8 percent in the year 2023-24.

Special risks in the context of South Asia

  • The spread of Omicron will hamper economic activity by restricting movement and reducing external demand.
  • The region remains vulnerable to poverty, disease, child mortality and climate-induced increases in food prices.

Source – The Hindu

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