World Economic Outlook – IMF Report- Key takeaways
Country |
Key Takeaways |
---|---|
United States |
– The US economy has shown “greater-than-expected resilience”, leading to an upward revision in its GDP growth forecast for 2023.– However, the IMF has also noted a “downward 1.2 percentage-points revision” for the US growth outlook, partly due to the earlier withdrawal of monetary accommodation and continued supply shortages. |
United Kingdom |
– The UK economy has seen a “substantial (almost 1 percentage point) downgrade” in its 2023 GDP growth forecast compared to the previous outlook.– This reflects the economic challenges the UK has faced, including the impact of Brexit, high inflation, and the lingering effects of the COVID-19 pandemic. |
Canada |
– Canada has launched its Indo-Pacific Strategy, which aims to promote peace, resilience and security, expand trade and investment, invest in and connect people, and build a sustainable and green future in the region.– Canada sees India as a “critical partner” in the Indo-Pacific, and plans to grow economic ties, expand market access, and support academic, educational, cultural, and research exchanges with India. |
France |
– Favorable views of India have declined in France over time, with just 39% now having a favorable view of India compared to 70% in 2008.– French adults are also less likely than they were in 2008 to share an opinion on India, suggesting a growing indifference or uncertainty about the country. |
India |
– India’s economic growth is projected to decline from 6.8% in 2022 to 6.1% in 2023 before picking up to 6.8% in 2024, which the IMF describes as “resilient” despite the global economic slowdown.– However, India’s strategic importance and leadership in the Indo-Pacific region is expected to increase as it becomes the world’s most populous country by 2030.– Domestically, Indian Prime Minister Narendra Modi enjoys high popularity, with 79% of Indians having a favorable view of him, including 55% with a very favorable view.– Internationally, Modi has more mixed reviews, with a median of 37% across 12 countries expressing confidence in him to make the right foreign policy choices. |
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