The International Monetary Fund has released its new forecast on March 6.
IMF Report
– The International Monetary Fund has released its new forecast on March 6. It has been said that India, China, America and Indonesia will continue to contribute significantly to the development of the world economy in the next five years.
In this report released on Monday, it has been said that India is playing an important role. These four countries will account for more than 50 percent of global economic growth. Interestingly, the IMF had made a similar prediction in 2023 as well.
Four countries — 🇨🇳 China, 🇮🇳 India, the 🇺🇸 US and 🇮🇩 Indonesia — are set to contribute more than half of the world’s economic growth over the next five years, according to IMF forecasts.
— The Spectator Index (@spectatorindex) March 6, 2024
Four countries — 🇨🇳 China, 🇮🇳 India, the 🇺🇸 US and 🇮🇩 Indonesia — are set to contribute more than half of the world’s economic growth over the next five years, according to IMF forecasts.
— World Times (@WorldTimesWT) March 6, 2024
India is the fastest growing economy in the world. India’s economic growth rate is between seven and eight percent. Many countries of the world are facing financial crisis. Moreover, the economic development of many countries is slow. In such a situation Indian economy is performing well. The IMF report has in a way sealed this.
Fifth largest economy
India falls under developing countries. In such a situation, few more years will have to pass for India to emerge as a developed nation. However, Indian economy is the fastest growing. Currently, India’s economy is the fifth largest economy. The central government has dreamed of making India the third largest economy.
Moody’s rating
The global rating agency Moody’s predicted the growth of the Indian economy a few days ago. Moody’s had previously projected a 6.1 percent economic growth. It has now been increased to 6.8 percent.
The country’s economy has picked up pace in the last month of last year. The GDP growth rate during this period was 8.4 percent. A global survey had predicted that the economy would grow at 6.6 percent. The current forecast is far ahead of that.
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