World Economic Outlook- January 2020 (IMF)

The International Monetary Fund predicts the world economy will strengthen in 2020, albeit at a slightly weaker pace than previously anticipated amid threats related to trade and tensions in the Middle East.

Global growth will accelerate this year to 3.3% from 2.9% in 2019, the fund said on Monday. That’s the first pickup in three years, but less than the 3.4% projected in October. The 2019 estimate was reduced for a sixth time. Their other take on the economy for the year 2020 is that –

  • Climate change is already having an impact on the global economy.
  • Countries must ensure the vulnerable are protected in order to maintain social cohesion.
  • Despite the note of optimism, significant risks remain.

Other key findings in this year’s report include:

  • Global economic growth for this year has been revised downwards from 3.4% to 3.3%, according to the International Monetary Fund.
  • The IMF attributed “the lion’s share” of the downward revision to “a more subdued growth forecast” for India.
  • China’s growth forecast for 2020 was revised higher by 0.2 percentage points to 6%, while that of the U.S. was marked down by 0.1 percentage points to 2.0%, said the fund.

Click here to download the report

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