Economy headed for contraction, less fiscal space for big stimulus | Business News,The Indian Express

Economy headed for contraction, less fiscal space for big stimulus | Business News,The Indian Express

Economy headed for contraction, less fiscal space for big stimulus

Written by P Vaidyanathan Iyer | New Delhi | Updated: April 22, 2020 at 4:30 am

If that happens, it won’t be unique to India — the IMF expects the Covid pandemic to severely impact growth across regions in its latest World Economic Outlook. It expects the US economy to shrink 5.9 per cent and the global economy to decelerate 3 per cent.