1 2021-05-12 10:12:38Xinhua
Editor : Wang Yifan
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A UN report has revised up the world economic growth as a result of robust rebounds in China and the United States, but warned against fragilities in other economies in the context of COVID-19.
In its mid-year update of its World Economic Situation and Prospects 2021, which was released in January 2021, the UN Department of Economic and Social Affairs (DESA) now predicts the world economy will grow 5.4 percent in 2021 instead of the 4.7 percent forecast in January 2021.
Following a sharp contraction of 3.6 percent in 2020, the world economy will return to positive territory as the world s two largest economies China and the United States will register impressive growth, according to the mid-year update, which was released on Tuesday.
India s GDP to grow 7.5 pc in 2021, outlook fragile: UN ANI | Updated: May 12, 2021 11:29 IST
Washington DC [US], May 12 (ANI): The United Nations has raised India s growth forecast to 7.5 per cent for calendar year 2021, marking a 0.2 per cent increase from its projection in January, but said the country s outlook for the year remains highly fragile.
The surging Covid-19 infections and inadequate vaccination progress in many countries threaten a broad-based recovery of the world economy, said the World Economic Situation and Prospects report.
It also projected India s GDP to grow by 10.1 per cent in 2022. India has been particularly affected by a brutal second wave which is overwhelming the public health system in large parts of the country.
India s GDP to grow 7.5% in 2021, outlook fragile: UN
By: ANI
Washington DC: The United Nations has raised India s growth forecast to 7.5 per cent for calendar year 2021, marking a 0.2 per cent increase from its projection in January, but said the country s outlook for the year remains highly fragile.
The surging COVID-19 infections and inadequate vaccination progress in many countries threaten a broad-based recovery of the world economy, said the World Economic Situation and Prospects report. It also projected India s GDP to grow by 10.1 per cent in 2022. India has been particularly affected by a brutal second wave which is overwhelming the public health system in large parts of the country.
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Pic: Shutterstock While the global growth outlook has improved, led by robust rebound in China and the US, surging COVID-19 infections and inadequate vaccination progress in many countries threaten a broad-based recovery of the world economy, says the latest United Nations forecast. The widening inequality casts a shadow over projected 5.4 per cent global growth in 2021.
According to the World Economic Situation and Prospects (WESP) mid-2021 report, following a sharp contraction of 3.6 per cent in 2020, the global economy is now projected to expand by 5.4 per cent in 2021, reflecting an upward revision from the UN forecasts released in January this year.
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The UN forecasts India s economy to grow by 7.5 per cent this calendar year and rebound to 10.5 per cent next year with the caveat that the outlook is highly fragile because of the brutal Covid-19 second wave.
The mid-year World Economic Situation and Prospects report released on Tuesday said that for a global recovery universal access to Covid-19 vaccine is critical but in India access to vaccines is unequal and insufficient to meet the massive demand .
It noted that while India has been particularly affected by a brutal second wave, which is overwhelming the public health system in large parts of the country , the country also has expanded vaccine eligibility and is ramping up supply in every possible manner .