According to the estimates of the International Monetary Fund (IMF), India’s economy will be the fastest growing in the world in 2022. Whereas in America this rate can remain only up to 5.2 percent. This economic growth rate in India last year was -7.3%. The IMF expects China to have a growth rate of up to 6.3%.
The IMF has predicted next year 2022 as the world’s fastest economy.
IMF Projections: 2022
S. Africa🇿🇦: 2.2%https://t.co/j0FIiCr9li #WEO pic.twitter.com/SLNNQqHyt1
— IMF (@IMFNews) October 12, 2021
After facing a lot of financial loss last year due to Corona crisis. The situation in the country seems to be improving now. The International Monetary Fund (IMF) has predicted that India will have the fastest economic growth rate as the world’s fastest economy in the next year 2022.
According to IMF estimates, this growth rate in India can reach 8.5 percent.
According to the estimates of the International Monetary Fund (IMF), this growth rate in India can reach 8.5 percent. Whereas in America this rate can be up to 5.2 percent. The special thing is that except India, this growth rate has not estimated to go above 6 percent in any other country.
The figures released by the IMF say that-
Last year, due to the Corona crisis, the economic growth rate in India was minus 7.3 percent, which was estimated to improve to 9.5 percent in 2021 this year. This estimate was also much higher than any other country in the world. Now in the next year 2022 also, the growth rate has estimated to be the highest compared to other countries.
After India, good economic condition has predicted in Spain.
Last year there was a minus 10.8 per cent growth, which is projected to improve to 5.7 per cent in 2021 and 6.4 per cent next year and is considered to be the second best improvement after India.
China is at number three and despite the Corona crisis in this country, the economic growth rate was 2.3 percent.
This year it is estimate to increase to 8.0 percent and next year it is expect to increase to 6.3 percent. Talking about America, the economic situation is showing improvement here too. After being minus 3.4 percent in 2020, it was estimate to be 6.0 percent this year, while next year this growth rate has estimated to be 5.2 percent, the IMF has predicted.
What are the estimates of other agencies?
Earlier, Fitch Ratings lowered India’s economic growth forecast for the current fiscal to 8.7 per cent. In June, Fitch had given India’s Gross Domestic Product (GDP) estimate of 10 per cent for the financial year 2021-22, which has reduced to 8.7 per cent. The agency says that this cut has made due to the second wave of the corona epidemic. However, it has increased the GDP growth forecast for the next financial year to 10 percent.
Meanwhile, last week the World Bank projected India’s growth rate at 8.3 per cent for 2021-22, which is lower than what was estimate before the second wave. The World Bank had earlier estimated GDP growth to be around 10.1 percent.