IMF forecast bright for India |
Global growth will be likely weaker this year than last with only a modest acceleration expected in 2016, International Monetary Fund chief Christine Lagarde said , and reiterated that India remains a bright spot. She sees a modest pickup in advanced economies. The moderate recovery is strengthening in the euro area, Japan is returning to positive growth, and activity remains robust in the US and the UK as well. The not-so-good news is that emerging economies are likely to see their fifth consecutive year of declining rates of growth. Lagarde said this ahead of October 9-11 IMF-World Bank annual meetings. She said India remains abright spot. China is slowing down as it rebalances away from export-led growth. Countries such as Russia and Brazil are facing serious economic difficulties. Growth in Latin Americancountries, in general, continues to slow sharply. She also sees weaker activity in low-income countries - which will be increasingly affected by the worsening external environment.
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