World Economic Situation and Prospects 2018

World Economic Situation & Prospects for 2018

Question- According to the World Economic Situation and Prospects 2018 issued by UN, What is the percentage of India’s economic growth rate predicted for 2018?
(a) 7.2 percent
(b) 7.4 percent
(c) 7.1 percent
(d) 7.5 percent
Answer: (a) 
Related Facts:

  • On December 11th, 2017, World Economic Situation and Prospects 2018 was issued by UN.
  • According to this, the Indian economy is expected to grow at a rate of 7.2 percent in 2018.
  • India’s economic growth rate will reach 7.4 percent in the year 2019.
  • According to the latest report, the global growth rate in 2017 was 3.0 percent, which is more than the global growth rate (2.4 percent) of 2016.
  • It is expected to be 3.0 percent in 2018 and 2019.
  • The growth rate of developed economies is predicted 2.0 percent and 1.9 percent in 2018 and 2019 respectively.
  • While growth rate of developing economies is expected to be 4.6 percent and 4.7 percent in 2018 and 2019 respectively.
  • It is noteworthy that the global growth rate in 2017 is at the highest growth since 2011.
  • According to the report, the growth rate of United States is estimated to be remained 2.1 percent in both the years 2018 and 2019.
  • The growth rate of euro zone is estimated to be 2.0 percent in 2018 and 1.9 percent in 2019.
  • The growth rate of East and South Asia will be 5.8 percent in 2018 and 5.9 percent in 2019.
  • Growth rate of South Asia is estimated to be 6.5 percent in 2018 and 7.0 percent in 2019.
  • It has been said in the report that despite the initial economic slowdown and side effects of the demonetization due to the more private consumption and public investment, in addition to more structured reforms the scenario for India remains quite positive.
  • In 2018, India’s fiscal deficit is likely to be 3.2 percent of GDP.
  • China’s growth rate in BRICS countries is likely to be 6.5 and 6.3 percent in 2018 and 2019 respectively.
  • Russia’s growth rate for both year (2018 and 2019) is estimated to be 1.9 percent.

 Reference:    
https://www.un.org/development/desa/dpad/publication/world-economic-situation-and-prospects-2018/
https://www.un.org/development/desa/dpad/wp-content/uploads/sites/45/publication/WESP2018_Full_Web-1.pdf