International Monetary Fund or IMF has been working on measures to implement for World Economical recovery post pandemic period. IMF has also been in talks with Pakistan and Sri Lanka to arrange huge loans for the countries to recover from their current crisis. As the recession fears are looming around US and Europe, IMF released their report for estimated growth rate of World Economies.
IMF report decreased Indian growth rate from 8.2 to 6.8%. Earlier, IMF estimated Indian growth rate to be 8.2% for 2022-23 financial year after India growth rate has been calculated to be 8.7% for 2021-22 financial year. IMF reduced the rate from 8.2 to 7.4% in July and now, further to 6.8%.
Even World Economy Growth rate has been estimated to be 3.2% this year while in 2021 it has been 6%. China has seen far major crash from 8.1 to 3.2%. For next financial year, World growth rate could be limited to 2.7% and this is due to Russia-Ukraine war, increase in inflation across the world and China lockdowns, rapid decline.
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