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Question

Read the below passage and attempt the following questions (Q no 1 to 4). In the ever-evolving tapestry of the global economy, policymakers, businesses, and investors rely on a compass that provides insights into the prevailing economic winds and potential storms. A report that is published regularly, serves as an indispensable guide for nations worldwide. Without explicitly naming the report, let's delve into its importance and the role it plays in shaping economic strategies on a global scale. The world is intricately interconnected through trade, finance, and technology. What happens in one corner of the globe can send ripples across borders, affecting economies near and far. It serves as a panoramic view, offering a nuanced understanding of the prevailing economic conditions, potential risks, and emerging opportunities. At the heart of the report, are key macroeconomic indicators, including GDP growth rates, inflation, and unemployment. These metrics serve as barometers, providing a snapshot of a country's economic health and its trajectory. Policymakers use this information to fine-tune fiscal and monetary policies, ensuring stability and sustainable growth. In an era of globalization, understanding global trade dynamics is paramount. It examines trends in international trade, identifies emerging patterns, and assesses the impact of geopolitical factors. Nations can adjust their trade policies in response to these insights, fostering a more resilient and adaptable economic environment.

Which of the following is the Central Theme report of the passage above?

A Ease of Doing Business Report Correct Answer Incorrect Answer
B World Drug Report Correct Answer Incorrect Answer
C Asian Development Outlook Correct Answer Incorrect Answer
D World Economic Outlook Correct Answer Incorrect Answer
E Global Financial Stability Report Correct Answer Incorrect Answer

Solution

Recently, the International Monetary Fund (IMF) has released its World Economic Outlook (WEO) Update, which has marginally improved the forecast for global growth in 2023. The global growth, which was estimated at 3.4% in 2022, is now projected to fall to 2.9% in 2023 before rising to 3.1% in 2024. The IMF effectively rules out a global recession. Negative growth in global GDP (Gross Domestic Product) or global GDP per capita—which often happens when there is a global recession—is not expected. Instead, it expects global growth to bottom out in 2023 before starting to gather speed in 2024.

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