Question : World economy latest projection released on January 2021. Which one of the following is correct regarding this projection?
(a) World economy expected to barely regain 2020 losses in 2021
(b) World economy expected to barely regain 2020 losses till 2025
(c) World economy expected to barely regain 2020 losses till 2026
(d) World economy expected to barely regain 2020 losses till 2028
Ans.(a)
Related facts
- World economy latest projection released on January 2021.
- This report titled “World Economic Situation and Prospects(WESP) 2021”.
Highlights of the report
World economy expected to barely regain 2020 losses in 2021.
- Covid 19 –
The pandemic spread like a forest fire, reaching every corner of the world, infecting more than 90 million and killing close to 2 million people worldwide.
- World economic growth –
World gross product fell by an estimated 4.3 percent in 2020—the sharpest contraction of global output since the Great Depression. In contrast, world output had shrunk by 1.7 per cent during the Great Recession in 2009.
World gdp would be grow at 4.7 and 3.4 percent in 2021 and 2022 respectively.
- India’s growth projection-
- India’s gdp fell by an estimated 9.6 percent in 2020.
- Further it would be grow at 7.3 and 5.9 percent in 2021 and 2022 respectively.
By — Pankaj Pandey.
Link:
https://www.un.org/development/desa/dpad/publication/world-economic-situation-and-prospects-2021/