World Economy to Rebound by 6.0 percent in 2021

The IMF published the April update of world economic outlook recently. As per the new projection, the impact of COVID-19 on the world economy is smaller than previously expected. The world economy is projected to contract by 3.3 percent in 2020 and then rebound in 2021 by 6.0 percent.  

Source : International Monetary Fund, 2020

The Advanced Economies are projected to expand by 5.1 percent and the Emerging & Developing Economies are projected to expand by 6.7 percent in 2021. The IMF has projected that Nepali economy will expand by 2.9 percent in 2021. See details here. 

As per the IMF, out of the 195 member economies 166 economies face a contraction in output in 2020,  16 economies grew by less than 2 percent and the rest of the economies grew by more than 2 percent.