World GDP slips 4.4% in 2020, growth 5.2% 2021: IMF – world news

World GDP slips 4.4% in 2020, growth 5.2% 2021: IMF – world news

The global growth rate will fall to 4.4 percent this year, lower than before, the IMF said on Tuesday, although the outlook is beset by uncertainty amid the ongoing epidemic.

According to the Washington-based crisis lender World Economic Outlook, large injections of government aid kept economies from moving forward, although growth in 2021 is expected to be slightly slower than forecast in June.

Nearly $ 3 trillion in stimulus spending was kept from catastrophic contractions in the United States and the growth rate is expected to decline only 4.3 percent this year. China will expand its economy by 1.9 percent.

Even among better news, countries such as India, Spain and Italy will see double-digit declines, while the UK misses that limit with just 9.8 per cent contraction.

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