IMF: India’s growth Forecast: 7.8%

The International Monetary Fund (IMF) and trimmed its forecasts of economic growth for India, China and other Asian developing economies due partly to slower growth in the rest of the world. The IMF forecast India’s economy to grow 7.8% in 2011 and 7.5% in 2012, down from its June forecasts of 8.2% and 7.8%, respectively. The report says that Investment is expected to remain sluggish, reflecting, in part, recent corporate sector governance issues and a drag from renewed global uncertainty and less favourable external financing environment. The IMF said it expected China’s economy to grow 9.5% in 2011 and 9% in 2012. That’s down from its June forecast for China of 9.6% economic growth in 2011 and 9.5% in 2012.

Month: Current Affairs - November, 2011