Question
According to the Economic Survey 2024-25 , what was the
global GDP growth rate in 2023, and what are the projected growth rates for 2024 and 2025?Solution
The Economic Survey 2024-25 highlights that the global economy grew by 3.3% in 2023 . Â
- The International Monetary Fund (IMF) projects a slight slowdown to 3.2% in 2024 and a moderate recovery to 3.3% in 2025 . Â
- Over the next five years (2024-2029) , global growth is expected to average around 3.2% , which is lower than pre-pandemic levels due to inflation, geopolitical tensions, and weaker global demand . Â
- United States : Growth at 2.8% in 2024 , expected to slow in 2025. Â
- Euro Area : Weak growth, expected at 0.8% in 2024 and 1.0% in 2025 . Â
- Emerging Markets (EMDEs) : Growth at 4.4% in 2024 and 4.2% in 2025 . Â
- India : Among the fastest-growing economies, projected at 6.4% in FY25 . Â
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