Perspective: World Economic Outlook | 27 July, 2022

Sansad TV
In this episode of the Perspective Prog. Based on ‘World Economic Outlook’. The global economy, which is still reeling from the Covid pandemic and Russia’s invasion of Ukraine, is facing an increasingly gloomy and uncertain outlook. In its World Economic Outlook update July 2022, the IMF projects the global economy to slow further to 3.2% in 2022, from a forecast of 3.6 per cent issued in April. The growth forecast for 2023 has also been slashed to 2.9 per cent from the April estimate of 3.6 per cent, citing the impact of tighter monetary policy. In 2021, the world growth had rebounded to 6.1 per cent, after the COVID-19 pandemic crushed global output in 2020 with a 3.1% contraction. Now, with the economic outlook having darkened significantly owing to several factors, the world may soon be teetering on the edge of a global recession. Amid this warning from the IMF, what lies ahead? What will be the fallout of a recession on an already fragile global economy?

1. Alicia Garcia Herrero, Senior Fellow, BRUEGEL
2. Alexander Slater, Deputy Managing Director, U.S.-India Business Council
3. Prof. Charan Singh, CEO, EGROW Foundation

Anchor: Teena Jha
Producer: Sagheer Ahmad

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