World Economic Outlook-2015

Question: World Economic Outlook published by IMF in October 2015 estimated highest growth rate for which country in year 2015?

(a) China
(b) India
(c) Japan
(d) Germany

Ans (b)

Related facts:

International Monetary Fund (IMF) released World Economic Outlook (WEO) October 2015 with an update titled ‘Adjusting to Lower Commodity Prices’.
The report projects global growth for 2015 at 3.1% and up to 3.6% in 2016.
The projected global growth for 2015 is 0.3% point lower than in 2014 and 0.2% point below the forecasts in the July 2015.
The report divided into two major parts as the world developed economies (Advanced Economies) and emerging market and developing economies.
Report indicates slight improvement in the growth rate of Advanced Economies compared to 1.8% growth rate in 2014.
It has Projected 2.0% in 2015, while 2.2%.in year 2016.
It has projected slowdown in the growth rate of developing economies, compared to 6% growth in 2014. The growth rates of 4.0% and 4.5% have been estimated respectively in 2015 and 2016.
Weakening prospects have been expressed for some emerging market economies and Petroleum Exporting Countries.
The atmosphere of falling commodity prices has reduced capital flows in emerging markets and tightens the external financial conditions and has increased volatility in financial market. In this scenario, the risky citizenship has increased.
Developing Asia’s growth is also projected to decrease compared to 8% growth in 2014 growth rate of 6.5% in 2015, while 2016 has been estimated at 6.4%.

India in the World Economic Outlook:

The IMF has expressed confidence in the Indian economy.
India’s growth rate for 2015 is estimated to be 7.3%, which is equivalent to growth of 2014.
It is decreased by 0.2% compared to update released in July.
India’s growth rate for 2016 is estimated at 7.5%.
According to the IMF’s projection India is fastest growing countries for the year 2015 and 2016.
India’s position is the best in the BRICS countries.

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