{"id":27492,"date":"2024-10-24T04:40:18","date_gmt":"2024-10-23T23:10:18","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=27492"},"modified":"2025-04-08T10:05:51","modified_gmt":"2025-04-08T04:35:51","slug":"world-economic-outlook-weo","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/world-economic-outlook-weo\/","title":{"rendered":"World Economic Outlook (WEO)"},"content":{"rendered":"<h2><strong>About World Economic Outlook (WEO):<\/strong><\/h2>\n<ul>\n<li>It is a comprehensive report <strong>published twice a year<\/strong> by the <strong>International Monetary Fund (IMF).<\/strong><\/li>\n<li>The WEO is usually published in <strong>April and October<\/strong>, followed by the less comprehensive WEO updates in July and January.<\/li>\n<li>It includes the IMF&#8217;s estimates and<strong> forecasts for global output growth and inflation<\/strong> as well as <strong>for real gross domestic product (GDP) growth<\/strong>, consumer prices, current account balances, and unemploymen<strong>t in the IMF\u2019s 190 member countries<\/strong>, grouped by region and development status.\u00a0<\/li>\n<li>The WEO also includes several chapters on selected pressing economic issues.<\/li>\n<li>The data is drawn from IMF representatives&#8217; consultations with member countries, and is included in the WEO database.<\/li>\n<li><strong>Highlights of the recent report:<\/strong>\n<ul>\n<li><strong>Global growth<\/strong> is <strong>expected to remain stable<\/strong>, yet underwhelming, at <strong>3.2% in 2024 and 2025.<\/strong><\/li>\n<li><strong>For India,<\/strong> the IMF has maintained its GDP growth estimate at <strong>7% for 2024<\/strong>, followed by <strong>6.5% next year<\/strong>, but linked the moderation in growth from last year to the exhaustion of \u201cpent-up demand accumulated during the pandemic.<\/li>\n<li>The world&#8217;s largest economy, the United States, is poised to grow at 2.8% in 2024 and 2.2% in 2025. Meanwhile, the IMF expects China&#8217;s economy to grow at 4.8% in 2024 and 4.5% in 2025.<\/li>\n<li>The IMF&#8217;s overall forecast for emerging markets and developing economies remained stable for the next two years in its latest outlook, hovering around 4.2% and steadying at 3.9% by 2029.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3><strong>Q1<\/strong>: What is gross domestic product (GDP)?<\/h3>\n<p>Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country\u2019s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country\u2019s economic health.<\/p>\n<p><strong>News<\/strong>: <a href=\"https:\/\/www.newindianexpress.com\/web-only\/2024\/Oct\/22\/why-the-global-economic-slowdown-is-here-to-stay-for-now\" target=\"_blank\" rel=\"nofollow noopener\">Why the global economic slowdown is here to stay for now<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>World Economic Outlook is a comprehensive report published twice a year by the International Monetary Fund (IMF).<\/p>\n","protected":false},"author":5,"featured_media":27493,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-27492","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/27492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=27492"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/27492\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/27493"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=27492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=27492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=27492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}