Social distancing will continue into 2021 but will subsequently fade over time as vaccine coverage expands and therapies improve. World Economic Outlook: Asian Development Bank – ADB: Asian Development Outlook: BIS (Bank for International Settlements) Global Financial System Report: FATF (Financial Action Task Force) Global Money Laundering Report: WWF (World Wildlife Fund) ... UPSC 2020: Application Form, Exam Date, Eligibility, Result; NDA 2 2019: Notification, Application Form Last Date, Eligibility Criteria; Sectors like tourism are severely affected which are important in the growth of the economy. UPSC Preliminary 2020 Results & Answer Key || Click here for Results || Click here G.S Answer Key ... World Economic Outlook. Moreover, health outcomes would begin to improve immediately in many countries thanks to reduced local air pollution. Manufacturing-led economies recover better than the economies that rely on contact-intensive services and oil export. World Economic Outlook October 2020 : Global output is projected to shrink 4.4% in 2020, the IMF said in its World Economic Outlook October 2020 report titled, “A Long and Difficult Ascent”. The additional debt incurred to finance such endeavours is more likely to pay for itself down the road by increasing the size of the economy and future tax base than if the borrowing were done to finance ill-targeted subsidies or wasteful current spending. ; It analyzes and predicts global economic developments during the near and medium term. Or Call us on- 9354229384, 9354252518, 9999830584. Context: Indian Economy is expected to contract by 10.3% in current fiscal year and the world by 4.4% ,according to IMF(WEO).. Concept:. Relevance:Prelims: Current events of national and international importance. This is more than the double of 4.5% contraction projected in the April edition. ... World Economic Outlook 2020. From UPSC perspective, the following things are important : Prelims level : BBIN, SAARC. For example, by bolstering multilateral initiatives for vaccine development and manufacture, including the. Context: The IMF has published the World Economic Outlook October 2020 report titled, “A Long and Difficult Ascent”. Countries should also cooperate on the design of international corporate taxation to respond to the challenges of the digital economy, Analyzing the Role of Judiciary in the last 5 years, SMAP 2020 | Day 73 | Mains Practice Question on Environment and Biodiversity (GS III), SMAP 2020 | Day 72 | Mains Practice Question on Environment and Biodiversity (GS III), Issues related to Farm Subsidies in India. It analyzes and predicts global economic developments during the near and medium-term. Released by: international Monetary Fund. Prolonged liquidity shortfalls can readily translate into bankruptcies and firm closures. Key Highlights: The subdued outlook for medium-term growth comes with a significant projected increase in the stock of sovereign debt. Following the contraction in 2020 and recovery in 2021, the level of global GDP in 2021 is expected to be a modest 0.6% above that of 2019. A broadly adopted, growth-friendly mitigation package could raise global activity through. After 2021, global growth is expected to be moderate at 3.5% in the medium term. For 2021, the estimate is 6.5%. The Report highlighted the severe impact of Covid-19 pandemic on the world economy. The report also says that after 2021 the Global growth is expected to be at 3.5 %. A renewed plunge in prices as seen in March would severely hurt activity in oil exporters and lead to weaker growth than projected. While the recovery in China has been faster than expected, the global economy’s long ascent back to pre-pandemic levels of activity remains prone to setbacks. Most Popular Articles. The 15th edition of the World Economic Forum’s Global Risks Report is published as critical risks are manifesting. World Economic Outlook. Design of policies that promote strong, sustainable and equitable economic growth. Moreover, the United Kingdom’s transitional arrangement with the European Union expires on December 31, 2020. Report and Indices for 2020 UPSC published by different organisations Sajid Hussain July 12, 2019. The world economy is projected to grow only 3 per cent this year and 3.4 per cent next year amid a “synchronised slowdown”. These effects include adjustment costs and productivity impacts for surviving firms as they upgrade workplace safety, the amplification of the shock via firm bankruptcies, costly resource reallocation across sectors, and discouraged workers’ exit from the workforce. This is more than the double of 4.5% contraction projected in the April edition. The key findings of the World Economic Outlook in October 2020 are: Proposals of World Economic Outlook Report 2020. World Economic Outlook report released. Globally, growth is expected to accelerate to 3.3% in 2020 and further to 3.4% in 2021. Moreover, with the spread of trade disputes to the technology domain, global supply chains face additional threats from a bifurcation of technology standards and platforms. Search for: Search. The United Nations Conference on Trade and Development (UNCTAD), United Nations Department of Economic and Social Affairs (UN DESA) and the five United Nations Regional Economic Commissions have jointly released the World Economic Situation and Prospects 2020 (WESP) recently. IAS Prelims 2021: A series of important topics. The Report has revised the growth projections of the whole world by point 0.8 percentage as compared to that of June 2020. World Economic Outlook Report 2020/विश्व आर्थिक परिदृश्य रिपोर्ट 2020; ... UPSC EPFO 2020- A Comprehensive Course. World’s fastest-growing region: East Asia, which also remains the largest contributor to global growth. Joint action- particularly by the largest emitters-  that combines steadily rising carbon prices with a green investment push is needed to reduce emissions consistent with limiting increases in global temperature to the targets of the 2015 Paris Agreement. Since the onset of the crisis, the IMF has expeditiously provided funding from its various lending facilities to about 80 countries at unprecedented speed. The growth projections imply wide negative output gaps and. COVID-19 & World Economic Outlook Projections. World Economic Outlook Update, June 2020: A Crisis Like No Other, An Uncertain Recovery June 24, 2020 Description: Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. Daily Editorial Analysis. World Economic Outlook. 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