The International Monetary Fund (IMF) has downgraded its growth forecasts for 2019-2021, primarily reflecting negative surprises to economic activity in a few emerging markets.
In its latest World Economic Outlook, the fund expected global economy to grow 2.9% in 2019, 3.3% in 2020, and 3.4% in 2021
The previous growth projections were 3% for last year, 3.4% for this year and 3.6% for next year.
“A more subdued growth forecast for India accounts for the lion’s share of the downward revisions,” it said.
IMF expects the effects of monetary easing across advanced and emerging market economies in 2019 to