Despite admitting that 2020 is to witness the worst recessionary conditions in the world economy, it came as a pleasant surprise to find that the global GDP for the current fiscal year has been estimated by IMF at (-) 4.4% – 0.8% more as compared to the projected level of GDP four months ago. To give credence to these estimates, it is seen that the advanced economies have been projected to have their GDPs to grow by (-) 5.8%, which is a clear 2.3% more compared to June estimates. The emerging and developing economies are projected to grow by (-) 1.7%, which is a drop by 0.9% from the earlier estimates. As this category includes China, slated to grow by 1.9% in the current year a clear 0.9% more than what was estimated in June  it is apparent that other emerging and developing economies are to de-grow by a larger extent than what was projected earlier.

Courtesyg: Google (photo)