IMF Projects Gloomy 2009


Staff member
IMF has recently updated its economic forecast for CY 2009.

Here are some of the highlights:

World output to expand by 2.2% in 2009. IMF had a projection of 3% in October, but after the late-October turmoil in world's financial markets, the forecast has been revised downwards.

Developed economies
to shrink in 2009 by around 0.3%. (This will be the first time since world war II that developed economies will show negative growth).

India to grow by 6.3%.

The full report is available here - IMF World Economic Outlook (November 6th).


A few more forecasts:


World's growth in 2009: 0.9%.
Developed countries growth in 2009: -0.8%.
India's growth in 2009: 6%.

Goldman Sachs:

India's growth in FY 2009: 6.7%.
India's growth in FY 2010: 5.8%.