The International Monetary Fund (IMF) has downgraded India’s economic growth forecast. However, an IMF official says that the situation in India will be better in India than in other countries. An IMF official said on Tuesday that today every country is slowing down in terms of economic growth, but that has not affected India. The head of the international body said that compared to other countries, India is in a better position.
Krishna Srinivasan, director of the IMF’s Asia and Pacific department, said in an interview with the PTI news agency that the global situation is currently a big problem. He said that even though inflation is rising, the pace of growth is still slowing in many parts of the world.
The statement comes at a time when the IMF has cut India’s economic growth forecast for the year 2022 to 6.8%. While at the beginning of July, India’s growth rate was estimated at 7.4%. The IMF official said that this year or next, many countries responsible for the global economy will be in recession. He said inflation was rising rapidly, so it could be more widespread.
The official said that today the pace of almost all countries is slow. So there, India is doing better. Rice is ranked higher than other countries. Srinivasan expressed concern about the world’s three largest economies, the United States, the European Union and China. He said the situation would continue to deteriorate here.