Imf Economic Outlook January 2020

Imf Economic Outlook January 2020

2 China is expected to record 81 growth after eking out a 23 increase in 2020. Under the assumption that the pandemic and required containment peaks in the second quarter for most countries in the world and recedes in the second half of this year in the April World Economic Outlook we project global growth in 2020 to fall to -3 percent.

Imf Upgrades 2021 Growth Forecast On Stimulus In Japan Us The Mainichi

The IMF has now revised down those forecasts to 29 and 33 respectively.

Imf economic outlook january 2020. The IMF released its World Economic Outlook for January 2020 yesterday Jan 20. The World Economic Outlook WEO database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report which presents the IMF staffs analysis and projections of economic developments at the global level in major country groups and in many individual countriesThe WEO is released in April and SeptemberOctober each year. Gopinath on the January 2021 Update of the World Economic Outlook.

Map of the projected real GDP growth rate in 2020 of counties in the International Monetary Fund s World Economic Outlook 26 January 2021. After the 35 contraction in 2020 global growth is set to rise by 55 in 2021 and 42 in 2022. Economy -- the worlds biggest -- to expand 51 this year after collapsing 34 in 2020.

But the outlook for 2020 remains bleak and the recovery will be partial and uneven. This is a downgrade of 63 percentage points from January 2020 a major revision. In an update to its World Economic Outlook the IMF said that it expects the US.

The IMF attributes the improvement to unexpectedly strong global economic activity in the second half of 2020. Economy -- the worlds biggest -- to expand 51 this year after collapsing 34 in 2020. The growth profile for the group reflects a combination of projected recovery from deep downturns for stressed and underperforming emerging market economies and an ongoing structural slowdown in China.

In contrast to the October update this marks a shallower contraction and an upward revision for 2021 growth thanks to vaccines and stimulus support. Global growth is projected to rise from an estimated 29 percent in 2019 to 33 percent in 2020 and 34 percent for 2021a downward revision of 01 percentage point for 2019 and 2020 and 02 for 2021 compared to those in the October World Economic Outlook WEO. The Washington-based institution forecast in October a global growth rate of 3 for 2019 and of 34 for 2020.

But it suggested the UK economy could see economic growth of 14 per cent this year and. 2 China is expected to record 81 growth after eking out a 23 increase in 2020. 1487 Views Gita Gopinath summarizes the main findings of the latest World Economic Outlook Update the risks facing the world and policy recommendations for the recovery.

During May and June as many economies tentatively reopened from the Great Lockdown the global economy started to climb from the depths to which it had plunged. We project that economic activity in Europe this year will decline by 7 and rebound by 47 in 2021. According to the IMF report the global economy contracted at a rate of 35 in 2020nearly a full point less than the 44 downturn that the organization predicted in October.

Metro Manila CNN Philippines January 26 The Philippine economy shrank deeper than expected in 2020 the International Monetary Fund said ahead of the release of official government figures. The IMFs latest World Economic Outlook update provides a glimmer of hope. IMF World Economic Outlook January 2021 Real GDP growth rate mapsvg.

Gita Gopinath IMF Chief Economist. The IMFsuggested the euro area would see economic growth of 13 per cent in 2020 and 14 per cent in 2021. In an update to its World Economic Outlook the IMF said that it expects the US.

The recovery path is exceptionally uncertain. The projected growth recovery this year follows a severe collapse in 2020 that has had acute adverse impacts on women youth the poor the informally employed and those who work in contact-intensive sectors. The months after the release of the June 2020 World Economic Outlook WEO Update have offered a glimpse of how difficult rekindling economic activity will be while the pandemic surges.

For the emerging market and developing economy group growth is expected to increase to 44 percent in 2020 and 46 percent in 2021 02 percentage point lower for both years than in the October WEO from an estimated 37 percent in 2019. Global growth is getting an upgrade but prospects for recovery are still highly uncertain due to the race between rolling out vaccines and mutations to COVID-19 the IMF says in its latest quarterly update to the World Economic Outlook report January 20. We are living in a highly uncertain times.

Imf Economic Growth Outlook

Imf Economic Growth Outlook

Global growth will moderate to 42 growth in 2022. The IMF predicted on Tuesday that the world economy will shrink by 44 in 2020 a less severe contraction than it forecast in June.

Global Growth Forecast From Imf Infographics By Reuters Creative Curriculum Developed Economy Infographic

In contrast to the October update this marks a shallower contraction and an upward revision for 2021 growth thanks to vaccines and stimulus support.

Imf economic growth outlook. The 2021 forecast is revised up 03 percentage point relative to the previous forecast reflecting expectations of a vaccine-powered strengthening of activity later in the year and additional policy support in a few large economies. In its latest World Economic Outlook forecast the IMF projects global growth at 55 which is higher than their previous forecast in October. The fund cut its US.

A lot depends on the epidemiology of the virus the effectiveness of containment measures and the development of therapeutics and vaccines. The IMF stated that the increased outlook for 2021 reflected additional policy support in a few large economies and expectations of a vaccine-powered strengthening of activity later in the year which outweigh the drag on near-term momentum due to rising infections. Global growth is projected to rise from an estimated 29 percent in 2019 to 33 percent in 2020 and 34 percent for 2021a downward revision of 01 percentage point for 2019 and 2020 and 02 for 2021 compared to those in the October World Economic Outlook WEO.

The IMF is the global lender of. However the IMF raised its forecast for Irans growth in 2022 by 05 percent saying the countrys gross domestic product GDP will grow by 2 next year. During May and June as many economies tentatively reopened from the Great Lockdown the global economy started to climb from the depths to which it had plunged.

Irans economy shrank by 65 in 2019 when the country began to feel the impacts of lower oil sales because of a series of American sanctions enacted a year before. April World Economic Outlook projects global growth in 2020 to fall to -3 percent. 2 China is expected to record 81 growth after eking out a 23 increase in 2020.

However it lowered its forecast for the euro area to 42 growth from 52. After the 35 contraction in 2020 global growth is set to rise by 55 in 2021 and 42 in 2022. Global growth is now projected to slow from 36 percent in 2018 to 33 percent in 2019 before returning to 36 percent in 2020.

The World Economic Outlook WEO database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report which presents the IMF staffs analysis and projections of economic developments at the global level in major country groups and in many individual countries. Global growth is getting an upgrade but prospects for recovery are still highly uncertain due to the race between rolling out vaccines and mutations to COVID-19 the IMF says in its latest quarterly update to the World Economic Outlook report January 20. The IMFs latest World Economic Outlook update provides a glimmer of hope.

Amid exceptional uncertainty the global economy is projected to grow 55 percent in 2021 and 42 percent in 2022. We are living in a highly uncertain times. After strong growth in 2017 and early 2018 global economic activity slowed notably in the second half of last year reflecting a confluence of factors affecting major economies.

In an update to its World Economic Outlook the IMF said that it expects the US. Economy to grow 51 this year and Japans to expand by 31. 2019 growth estimates by 02 percentage point to 24 but raised it by the same margin to 21 next year.

IMF economists dimmed their views across the largest economies. VACCINE-POWERED UPTICK In its latest World Economic Outlook the IMF forecast a 2020 global contraction of 35 an improvement of 09 percentage points from the 44 slump predicted in October. The IMF had predicted in October that Irans growth would reach 32 this year after an estimated contraction of 15 last year.

The months after the release of the June 2020 World Economic Outlook WEO Update have offered a glimpse of how difficult rekindling economic activity will be while the pandemic surges. Economy -- the worlds biggest -- to expand 51 this year after collapsing 34 in 2020. This is a crisis like no other and there is substantial uncertainty about its impact on peoples lives and livelihoods.

The improvement is driven by a stronger than expected bounce in. The IMF expects the US. Estimated to have contracted by eight per cent in 2020 due to the pandemic the IMFs growth projections for India in its latest World Economic Outlook Update reflected a strong rebound in the.

Imf World Economic Outlook Database Imf

Imf World Economic Outlook Database Imf

The World Economic Outlook WEO database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report which presents the IMF staffs analysis and projections of economic developments at the global level in major country groups and in many individual countriesThe WEO is released in April and SeptemberOctober each year. IMF Upgrades Global Economic Forecast for 2021.

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The International Monetary Fund IMF is an international financial institution headquartered in Washington DC consisting of 190 countries working to foster global monetary cooperation secure financial stability facilitate international trade promote high employment and sustainable economic growth and reduce poverty around the world while periodically depending on the World Bank for.

Imf world economic outlook database imf. The World Economic Outlook WEO database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report which presents the IMF staffs analysis and projections of economic developments at the global level in major country groups and in many individual countries. The World Economic Outlook WEO presents the IMF staffs analysis and projections of economic developments at the global level in major country groups classified by region stage of development etc and in many individual countries. It presents IMF staff economists analyses of global economic developments during the near and medium term.

For optimum experience we recommend to update your browser to the latest version. The World Economic Outlook WEO database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report which presents the IMF staffs analysis and projections of economic developments at the global level in major country groups and in many individual countries. Asia and the Pacific Australia Bangladesh Bhutan British Indian Ocean Territory Brunei Darussalam Cambodia China Cook Islands Cyprus Fiji Hong Kong India Indonesia Israel Japan Kiribati Korea Republic of Lao Peoples Democratic Republic.

The WEO is released in April and SeptemberOctober each year. The release calendar provides release dates for statistical datasets eg. IFS BOP and IIP DOTS FSI COFER etc.

Global growth is now projected to slow from 36 percent in 2018 to 33 percent in 2019 before returning to 36 percent in 2020. Strong multilateral cooperation is required to bring the pandemic under control everywhere. The International Monetary Fund IMF has upgraded its global growth forecast slightly for 2021 as recent vaccine approvals and the promise of more to come have boosted hopes that the COVID-19 pandemic will be on the run later this year.

Your browser is not up-to-date. Sign up to receive free e-mail notices when new series andor country items are posted on the IMF website. Selected series from the publication are available in a database format.

The World Economic Outlook WEO database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report which presents the IMF staffs analysis and projections of economic developments at the global level in major country groups and in many individual countries. It is usually prepared twice a year as documentation for meetings of the International Monetary and Financial Committee and forms the main. After strong growth in 2017 and early 2018 global economic activity slowed notably in the second half of last year reflecting a confluence of factors affecting major economies.

The World Economic Outlook WEO database contains selected macroeconomic data series from the statistical appendix of theWorld Economic Outlook report which presents the IMF staffs analysis and projections of economic developments at the global level in major country groups and in many individual countries. Amid exceptional uncertainty World Economic Outlook projects 2021 growth of 55 after a 35 contraction in 2020. IMF upgrades its economic forecast but the virus remains in control Sean McHenry Jan 26 2021 We have a small upgrade of 3 says IMF chief economist Gita Gopinath about the latest World.

The World Economic Outlook WEO database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report which presents the IMF staffs analysis and projections of economic developments at the global level in major country groups and in many individual countries. World Economic Outlook Reports A Survey by the IMF staff usually published twice a year. The Rise of Corporate Market Power and Its Macroeconomic.

As noted in the October 2020 World Economic Outlook WEO a green investment push coupled with initially moderate but steadily rising carbon prices would yield needed emissions reductions while supporting the recovery from the pandemic recession. It focuses on major economic policy issues as well as on the analysis of economic developments and prospects. The World Economic Outlook WEO database is created during the biannual WEO exercise which begins in January and June of each year and results in the April and SeptemberOctober WEO publication.

Imf World Economic Outlook October 2020 Pdf

Imf World Economic Outlook October 2020 Pdf

The global economy is projected to grow by 35 per cent in 2019 and 36 per cent in 2020 by 02 and 01 percentage points below last Octobers forecasts. World Economic Outlook October 2020.

Global Economic Outlook Recession In The Us Will Be Temporary But Slow Growth In Germany Is Structural Raboresearch

World Economic Outlook Selected Topics Authors.

Imf world economic outlook october 2020 pdf. Global growth in 2018 is estimated to be 37 percent as estimated in the October 2018 World Economic Outlook WEO although some economies especially Europe and Asia have weaker performance. The third section offers a general description of the data and the conventions used for calculating. Online Annex Table 212 provides the full list of countries.

Overview of the World Economic Outlook Projections at Market Prices 11 Table 111. But with the COVID-19 pandemic continuing to spread many countries have slowed reopening and some are reinstating partial lockdowns to protect susceptible populations. During May and June as many economies tentatively reopened from the Great Lockdown the global economy started to climb from the depths to which it had plunged.

IMF World Economic Outlook October 2020. A Long and Difficult Ascent October 7 2020 Description. There are extensions of fiscal countermeasures Faster productivity growth is engendered by changes in production distribution and.

Significant risks of more severe outcomes 18 On the upside the recession could turn out to be less severe if. But with the COVID-19 pandemic continuing to spread many countries have slowed reopening and some are reinstating partial lockdowns to protect susceptible populations. The World Economic Outlook WEO database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report which presents the IMF staffs analysis and projections of economic developments at the global level in major country groups and in many individual countriesThe WEO is released in April and SeptemberOctober each year.

The International Monetary Fund released its World Economic Outlook - October 2020 report where it has projected global growth to fall by 44 in 2020 and expect a rebound of 52 in 2021. Executive Directors broadly concurred with the assessment of the global economic outlook risks and policy priorities. The second section briefly describes the changes to the database and statistical tables since the April 2020 World Economic Outlook WEO.

World Economic Outlook October 2020 A Long and Difficult Ascent The global economy is climbing out from the depths to which it had plummeted during the Great Lockdown in April. IMF Executive Board Discussion of the Outlook October 2020 181 Tables Table 11. World Economic Outlook WEO Database October 2020 Myanmar Inflation average consumer prices index of Myanmar increased from 2089 index in 2001 to 16173 index in 2020 growing at an average annual rate of 1191.

World Economic Outlook WEO database. World Economic Outlook October 2020 The International Monetary Fund. After the rebound in 2021 global growth is expected to gradually slow to about 35 in the medium term.

World Economic Outlook WEO Database October 2020. After the rebound in 2021 global growth is expected to gradually slow to about 35 in the medium term. The revision reflects better-thananticipated second quarter GDP outturns.

The global economy is climbing out from the depths to which it had plummeted during the Great Lockdown in April. Strong multilateral cooperation is required to bring the pandemic under control everywhere. While recovery in China has been faster than expected the global economys long ascent back to pre-pandemic.

Global growth in 2018 is estimated at 37 percent as in the World Economic Outlook WEO forecast for October 2018 despite weaker performance in some countries particularly in Europe and Asia. Oxford Coronavirus Government Response Tracker. Global growth is projected to be -44 percent which is a small upgrade from June.

In case of India there has been a sharp. The months after the release of the June 2020 World Economic Outlook WEO Update have offered a glimpse of how difficult rekindling economic activity will be while the pandemic surges. Changes in World GDP Shares from Purchasing-Power-Parity Revisions 31 Table 112.

The global economy is climbing out from the depths to which it had plummeted during the Great Lockdown in April. The GDP forecast errors are defined as the deviations from January 2020 WEO projections for the first half of 2020 2020H1. Global growth is projected at 44 percent in 2020 a less severe contraction than forecast in the June 2020 World Economic Outlook WEO Update.

The global economy is projected to grow by 35 percent in 2019 and 36 percent in 2020 02 and 01 percentage points below forecasts from October. This upgrade owes to somewhat less dire outcomes in the second quarter as well as signs of a stronger recovery in the third quarter offset partially by downgrades in some. The International Monetary Fund IMF released its World Economic Outlook October 2020 report where it has projected global growth to fall by 44 in 2020 and expect a rebound of 52 in 2021.

The first section summarizes the assumptions underlying the estimates and projections for 202021. In our latest World Economic Outlook we continue to project a deep recession in 2020. As noted in the October 2020 World Economic Outlook WEO a green investment push coupled with initially moderate but steadily rising carbon prices would yield needed emissions reductions while supporting the recovery from the pandemic recession.

And IMF staff calculations. The following remarks were made by the Chair at the conclusion of the Executive Boards discussion of the Fiscal Monitor Global Financial Stability Report and World Economic Outlook on September 30 2020. Overview of the World Economic Outlook Projections 9 Table 12.

Imf World Economic Outlook Covid

Imf World Economic Outlook Covid

The COVID-19 pandemic is inflicting high and rising human costs worldwide and the necessary protection measures are severely impacting economic activity. Economy is the worlds largest followed by China which the IMF predicts will achieve a record 81 growth after a relatively small 23 economic spurt in 2020.

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Amid exceptional uncertainty the global economy is projected to grow 55 percent in 2021 and 42 percent in 2022.

Imf world economic outlook covid. The 2021 forecast is revised up 03 percentage point relative to the previous forecast reflecting expectations of a vaccine-powered strengthening of. Although recent vaccine approvals have raised hopes of a turnaround in the pandemic later this year renewed waves and new variants of the virus pose concerns for the outlook. The January 2021 World Economic Outlook Report issued by the International Monetary Fund IMF is projecting a 55 growth in the global economy this year though its projection is underpinned by a.

As a result of the pandemic the global economy is projected to contract sharply by 3 percent in 2020 much worse than during the 200809 financial crisis. The lockdowns had a severe effect on the regions non-oil economy. Global growth is getting an upgrade but prospects for recovery are still highly uncertain due to the race between rolling out vaccines and mutations to COVID-19 the IMF says in its latest quarterly update to the World Economic Outlook report January 20.

The Fund revised its US. WASHINGTON AP The spread of COVID-19 vaccines will power a stronger global economic recovery in 2021 the International Monetary Fund forecast Tuesday. The spread of Covid-19 vaccines will power a stronger global economic recovery in 2021 the International Monetary Fund forecast Tuesday.

A Crisis Like No Other An Uncertain Recovery - June 2020 Policies Politics and Pandemics FD Magazine - June 2020 IMF Executive Board Approves Two-Year US2393 Billion Flexible Credit Line Arrangement for Chile - May 29 2020. The COVID-19 pandemic is inflicting high and rising human costs worldwide and the necessary protection measures are severely impacting economic activity. It sees global GDP expanding by 42 in 2022.

We are living in a highly uncertain times. After sinking 35 in 2020 the worst year since World War. Policy Support and Vaccines Expected to Lift Activity.

The months after the release of the June 2020 World Economic Outlook WEO Update have offered a glimpse of how difficult rekindling economic activity will be while the pandemic surges. The International Monetary Fund IMF has sharply downgraded its 2021 growth forecast for the United Kingdom. The IMF expects the global economy to grow 55 this year a 03 percentage point increase from Octobers forecasts.

During May and June as many economies tentatively reopened from the Great Lockdown the global economy started to climb from the depths to which it had plunged in April. In its October 2020 World Economic Outlook the Fund says in addition to cushioning people and firms affected by the pandemic countries now need to pursue economic policies that recognize the. World Economic Outlook Update.

While recent data suggests the contraction in 2020 was somewhat less than the 57 per cent projected by the IMF in the October 2020 Middle East Regional Economic Outlook it was still sizeable. In its latest World Economic Outlook the IMF forecast a 2020 global contraction of 35 an improvement of 09 percentage points from the 44 slump predicted in October given. The Great Lockdown April 6 2020 Description.

After sinking 35 in 2020 the worst year since World War II the global economy will grow 55 this year the 190-country lending organization predicted. The IMF in its World Economic Outlook WEO update said that consistent with recovery in global activity global trade volumes are forecast to grow about eight per cent in 2021 before. Washington DC Analyzing the economic crisis spurred by the coronavirus the International Monetary Fund released the Global Financial Stability Report and the 2020 World Economic Outlook Report A Long and Difficult Ascent The economic outlook report projects global economic growth to contract 44.

World Economic Outlook April 2020. As a result of the pandemic the global economy is projected to contract sharply by 3 percent in 2020 much worse than during the 200809 financial crisis. The economies of 19.

In its flagship world economic outlook the IMF said a stronger than expected performance in the second and third quarters meant it believed global output would fall by 44 in 2020 compared with. The IMF on Tuesday slashed 14 percentage points off a prediction made last October.

Imf World Economic Outlook Next Release

Imf World Economic Outlook Next Release

14 April 2020 IMF projects worst economic downturn since the Great Depression The IMFs latest World Economic Outlook WEO sees the global economy faltering and forecasts negative global growth of minus 3 percent in 2020 because of the Covid-19 pandemic. The data appearing in the World Economic Outlook are provided to the Research Department at the time of the WEO exercises.

Rhodium Group The Imf S World Economic Outlook For China Slower And Less Trade Surplus World China Trade Trading

The historical data and projections are based on the information gathered by the IMF country desk officers in the context of their missions to IMF member countries and ongoing analysis of the evolving situation in each country.

Imf world economic outlook next release. Under the assumption that the pandemic and required containment peaks in the second quarter in most countries of the world and then recedes in the second half of this year we are projecting global growth in 2020 to fall to minus 3 percent. The release calendar provides release dates for statistical datasets eg. Global growth for 2018 is estimated at 37 percent as in the October 2018 World Economic Outlook WEO forecast despite weaker performance in some economies notably Europe and Asia.

IFS BOP and IIP DOTS FSI COFER etc. This is a downgrade of 63 percentage points from January 2020 a major revision. Global growth remains sluggish and we are revising down growth for 2019 to 32 and for 2020 to 35.

Global growth is now projected to slow from 36 percent in 2018 to 33 percent in 2019 before returning to 36 percent in 2020. IMF World Economic Outlook Update Release Date. Selected series from the publication are available in a database format.

The IMF released its July update to the World Economic Outlook which forecasts global growth trade and inflation from Santiago Chile Tuesday July 22. Global growth is getting an upgrade but prospects for recovery are still highly uncertain due to the race between rolling out vaccines and mutations to COVID-19 the IMF says in its latest quarterly update to the World Economic Outlook report. The recovery is projected to strengthen in 2017 and beyond driven primarily by emerging market and developing economies as conditions in stressed economies start gradually to normalize.

But what politicians do in the next couple of months. IMF Chief Economist Gita Gopinath said. The global economy is projected to grow at 35 percent in 2019 and 36 percent in 2020 02 and 01 percentage point below last Octobers projections.

IMF World Economic Outlook Release Date. The steady expansion under way since mid-2016 continues with global growth for 201819 projected to remain at its 2017 level. 13 October 2020 The International Monetary Fund is projecting a deep recession in 2020 with global growth projected to be -44 in its latest update to the World Economic Outlook forecast to be released Tuesday October 13 0830 AM ET IMF chief economist Gita Gopinath says.

26 January 2021 The World Economic Outlooks latest forecast projects global growth for 2021 at 55 percent 03 percentage point higher than the reports October forecast moderating to 42 percent in 2022. Global growth is projected at 49 percent in 2020 19 percentage points below the April 2020 World Economic Outlook WEO forecast. IMF World Economic Outlook Press Briefing Release Date.

IMF World Economic Outlook January 2021 Forecast Release Date. The Rise of Corporate Market Power and Its Macroeconomic. The World Economic Outlook WEO database is created during the biannual WEO exercise which begins in January and June of each year and results in the April and SeptemberOctober WEO publication.

Downside risks to global growth have risen in the past six months and the potential for upside surprises has receded. A Crisis Like No Other An Uncertain Recovery June 24 2020 Description. Put it as she previewed the semi-annual IMF World Economic Outlook.

After strong growth in 2017 and early 2018 global economic activity slowed notably in the second half of last year reflecting a confluence of factors affecting major economies. Under the assumption that the pandemic and required containment peaks in the second quarter for most countries in the world and recedes in the second half of this year in the April World Economic Outlook we project global growth in 2020 to fall to -3 percent. At the same time however the expansion has become less balanced and may have peaked in some major economies.

The World Economic Outlook WEO database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report which presents the IMF staffs analysis and projections of economic developments at the global level in major country groups and in many individual countriesThe WEO is released in April and SeptemberOctober each year. World Economic Outlook Update June 2020. The World Economic Outlooks latest forecast projects global growth for 2021 at 55 percent 03 percentage point higher than the reports October forecast moderating to 42 percent in 2022.

The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated and the recovery is projected to be more gradual than previously forecast. International Monetary Fund To Release Economic Outlook NPRs Noel. See also the World Economic Outlook Reports.

This is a downgrade of 63 percentage points from January 2020. The baseline projection for global growth in 2016 is a modest 32 percent broadly in line with last year and a 02 percentage point downward revision relative to the January 2016 World Economic Outlook Update.