Friday, October 12, 2012

IMF predicts a poor 2012 for global economy

                                                               Source: Business Standard

We recently read with great surprise about how IMF cut India's GDP growth forecast for 2012 to just 4.9%. In fact, India is not alone. As above chart highlights, the global financial institution expects all major nations to have a subdued 2012 than 2013. India though is certainly the worst off. We for one though won't read too much into this. Even if growth does turn out to be the way IMF predicts, it is just an aberration as per us and on a long term basis, India's GDP growth should rebound to its long term average of 6%-7%.

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