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Global Economic Prospects Report 2020 – Free PDF Download

 

GLOBAL  SCENARIO

  • Overall global growth for  2020 is forecast to  reach 2.5%, up from 2.4% estimated in  2019.
  • The World Bank has global growth inching  up in 2021 to 2.6% and in 2022 to 2.7%.

ADVANCED  &  EMERGING  ECONOMIES

  • Growth among advanced economies as a  group is anticipated to slip to 1.4% in 2020.
  • Growth in emerging market and developing  economies is expected to accelerate this year  to 4.1%.

INDIA  FORECAST

  • The latest projections involve a significant  downgrade from the June 2019 forecasts,
  • Which expected the Indian economy to grow at  7.5% or more in the next three years.

MAIN  REASON

  • Lingering weakness in credit from non-banking  financial companies (NBFCs).
  • The main cause for the downgrade.

GLOBAL  DEBT  CRISIS

  • The World Bank has warned of the risk of a fresh global  debt crisis.
  • In 2018, global debt climbed to a record high of about  230% of GDP.
  • While total debt from emerging and developing  economies reached an all-time high of almost 170% of  GDP.
  • There have been 4 waves of debt accumulation over the  last 50 years.
  • The first 3 waves of global debt accumulation were  identified as running from 1970-1989, 1990-2001 and  2002-2009.
  • The current wave — which started in 2010 — is thought  to be “the largest, fastest and most broad-based  increase.”

SLOWING  PRODUCTIVITY  GROWTH

  • Productivity growth, a primary source of income  growth and driver of poverty reduction,
  • Has slowed more broadly and steeply since the  global financial crisis.

 

 

 

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