Getting off the Slow Line
Sooner or later, the global economy will be affected as India is one of the hopes for the world economic recovery from the demand side.
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Ari Kuncoro
A number of global financial institutions have revised down their predictions on the world economic recovery amid the resurgence of Covid-19 cases in India, which has put the country in a hot spot. Last week, India broke the world record with over 400,000 cases in a day.
Sooner or later, the global economy will be affected as India is one of the hopes for the world economic recovery from the demand side. For Indonesia, the International Monetary Fund (IMF) lowered its growth projection this year to 4.3 percent (from 4.8 percent in February). Likewise, the Asian Development Bank (ADB) set its economic growth forecast at 4.5 percent.