IMF expects world economy to shrink by 4.4% in 2020, up 0.8%p from June
- 4 years ago
IMF, 韓 경제성장률 전망 -1.9%로 소폭 상향...선진국 중 2위
Our top story this morning.
The International Monetary Fund has revised up its global GDP forecast from June,... but it continues to warn that many economies will have a tough time returning to pre-COVID-19 levels of growth.
Kim Hyo-sun reports.
In its latest World Economic Outlook released for this year,... the IMF projects a 4-point-4 percent contraction,... up point-eight percentage points from June.
As for South Korea,... the finance group expects a contraction of one-point-nine percent,... a slight improvement from June's two-point-one percent contraction.
While signs of recovery in outbound shipment and the fiscal policies rolled out by the government were some positive factors,... the resurgence of COVID-19 in the country's greater capital area had a negative impact on the country's economy.
Nonetheless, South Korea came in third and second place among the list of advanced economies and among OECD member-states, respectively.
Backed by improved GDP numbers during the second quarter in the U.S. and Europe,... the IMF has also upgraded the overall economic outlook for 39 advanced economies from a contraction of eight-point-one percent to a 5-point-8 percent contraction.
On the other hand, it has downgraded the economic forecast for emerging markets and developing economies,... with India's GDP expected to fall by more than 10 percent.
The IMF also warned that with renewed upticks in COVID-19 infections,... leading to renewed shutdowns,... many economies face difficulties in returning to pre-pandemic levels.
Along with this warning,... the international body also downgraded its outlook for 2021,... forecasting a 5-point-2 percent increase in global output,... down from 5-point-4 percent in its previous report.
Kim Hyo-sun, Arirang News.
Our top story this morning.
The International Monetary Fund has revised up its global GDP forecast from June,... but it continues to warn that many economies will have a tough time returning to pre-COVID-19 levels of growth.
Kim Hyo-sun reports.
In its latest World Economic Outlook released for this year,... the IMF projects a 4-point-4 percent contraction,... up point-eight percentage points from June.
As for South Korea,... the finance group expects a contraction of one-point-nine percent,... a slight improvement from June's two-point-one percent contraction.
While signs of recovery in outbound shipment and the fiscal policies rolled out by the government were some positive factors,... the resurgence of COVID-19 in the country's greater capital area had a negative impact on the country's economy.
Nonetheless, South Korea came in third and second place among the list of advanced economies and among OECD member-states, respectively.
Backed by improved GDP numbers during the second quarter in the U.S. and Europe,... the IMF has also upgraded the overall economic outlook for 39 advanced economies from a contraction of eight-point-one percent to a 5-point-8 percent contraction.
On the other hand, it has downgraded the economic forecast for emerging markets and developing economies,... with India's GDP expected to fall by more than 10 percent.
The IMF also warned that with renewed upticks in COVID-19 infections,... leading to renewed shutdowns,... many economies face difficulties in returning to pre-pandemic levels.
Along with this warning,... the international body also downgraded its outlook for 2021,... forecasting a 5-point-2 percent increase in global output,... down from 5-point-4 percent in its previous report.
Kim Hyo-sun, Arirang News.