Global Economy To Suffer Significant Loss, But India Better Placed: RBI
NDTV
The global recovery is expected to suffer a significant loss of momentum in 2022, the Reserve Bank of India's annual report showed.
The global recovery is expected to suffer a significant loss of momentum in 2022, the Reserve Bank of India's annual report showed.
The risks are large and to the downside from the escalation in the Russia-Ukraine war leading to shortages of raw materials as global supply chains continue to remain distorted, even before they could recover from the pandemic-led distortion, said the RBI.
The report showed that the resurgence of the pandemic, a slowdown in China, and the climate stress overshooting the Paris agreement goals were the other economic worries for the world.
Still, amidst these adverse international developments, the Indian economy is relatively better placed to strengthen the recovery underway and improve macroeconomic prospects as we advance, the RBI said.
