The IMF has projected economic growth in 2022. In this, India’s growth rate is estimated to be 8.2 percent. Whereas Russia’s growth rate can be 8.5 percent in the negative.
At the same time, the growth rate of China is estimated to be 4.4 percent. The growth rates of the US and the UK are also expected to remain low.
This will be the growth rate:
- India: 8.2%
- Saudi: 7.6%
- Spain: 4.8%
- China: 4.4%
- Australia: 4.2%
- Canada: 3.9%
- US: 3.7%
- UK: 3.7%
- Nigeria: 3.4%
- France: 2.9%
- Turkey: 2.7%
- Japan: 2.4%
- Italy: 2.3%
- Germany: 2.1%
- Mexico: 2%
- South Africa: 1.9%
- Brazil: 0.8%
- Russia: -8.5%
The fall in the 2023 growth forecast for India is partly due to the war in Ukraine, which has pushed up energy and food prices and slowed growth. China, which registered a growth rate of 8.1 per cent in 2021, is projected to grow at 4.4 per cent in 2022 and 5.1 per cent in 2023.
India’s growth is more than double the estimates of its neighboring countries. The US is projected to grow by 3.7 percent in 2022, while it will grow at 5.7 percent in 2021. According to the IMF report, its estimate for 2023 has been reduced to 2.3 percent.
The IMF has forecast a global growth rate of 3.6 percent in 2022 and 2023, lower than its January forecast by 0.8 and 0.2 percent, respectively.
The IMF report estimated that Ukraine’s economy would collapse by 35 percent due to Russian aggression, destruction of its infrastructure and mass exodus of civilians to other countries.
The report cited severance of trade ties with sanctions as the reason behind the 8.5 percent drop in Russia’s GDP. The downgrade largely reflects the direct effects of the war in Russia and Ukraine and globally.
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source https://spotlight7.com/business/indias-growth-rate-will-be-8-2-in-2022-imf/
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