World Economic Outlook 2021

Why in news?

• World Economic Outlook 2021 Report has been published

About World Economic Outlook

• The Report was released by the International Monetary Fund (IMF). It’s a biennial report.
• As per the report, Indian economy will stage a strong rebound and grow as much as 11.5 per cent on year in FY22, revising IMFs earlier forecast of an 8.8 per cent expansion.
• With this, India will emerge as the only key nation to record a double-digit growth and reclaim the status of the world’s fastest-growing major economy.
• India’s real gross domestic product (GDP) shrank as much as 8 per cent in FY21 due to the Covid-19 pandemic.
• In FY23, the economy will likely grow 6.8 per cent, it added.
• IMF also predicted that China would grow 8.1 per cent in 2021, followed by Spain (5.9 per cent) and France (5.5 per cent).
• China, which was the only major country to register a growth rate of 2.3 per cent in 2020, will expand 5.6 per cent in 2022, the IMF said.

PRELIMS QUESTION

Which among the following organisation releases World Economic Outlook?
(a)World Bank
(b)IMF
(c)G20
(d)WEF

Answer to Prelims Question