Aboutme.Profsubin: IMF Predicts A Gloomy Pics of World Economy 2019-2025

Aboutme.ProfSubin: IMF Predicts A Gloomy Pics Of World Economy 2019-2025

After 6 months into Pandemic Covid-19 outbreak, IMF predicts a gloomy pics of world economy.

In the latest outlook published by IMF, viz., "World Economic Outlook" predicted a Global growth to -4.4% from -4.9% (June Updates). 

Growth in 2021 looks not so rosy, whereas recovery will be uncertain, long & uneven. 

Large countries will be running in deep recession, as US Economy will be contracting by 4% till UK will be contracting by 10% respectively. 

This bump will be twice as deep of what has happened in 2009 crisis. Only country which will be showing positive growth is China by 1.9%.

India will be shrinking to around 10.3%. Long term effects will be tantalising will be hindering growth too much. 

When we compared 2019 growth with 2025, still all economies will be lagging behind. 

Poor countries will be falling behind. Global growth will be 4.7% in 2025, which will be lower from 5.7% in 2000-2019. 

Factors For The Lasting Damage:

1. The structure of the economy will be having a major shift. 

2. Shopping habits of consumers will change. 

3. New rules in workplace will be imminent, like social distancing, masks, etc. 

4. Tourism sector will suffer which means hotels, transportation, shipping, etc. 

5. Labour & Capital must be relocated to high growth areas. 

6. Scams, Bankrupties and high unemployment is a threatening factor.

7. Long term effects will have wild repercussions.

Note: Tomorrow Asian Market is going to crash....