As the year 2012 comes to an end, the first decade of the third millenium ends leaving the world economy faced with an Economic and Financial crisis owing to the financial crisis that had set off in August 2007 in the US and continues to affect the world economy till date. The pace of economic growth in Mexico, India, South Korea, Latin America and Asia-Pacific Nations has been good in the past.
However the US economy is expected to grow substantially in the coming year. Also, 22 economies including Latin America, Sub Saharan Africa, Japan and some of Asian countries show signs of development and growth in 2013.
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| IMF’s forecast for 2013 |
The IMF expects the economic growth at 3.6% in the new year compared to 3.3% in the previous year.
However, in India, the conflict between the Indian government and the citizens demanding Justice for the gang-rape victim and Safety for Women, might initially pose a threat to the economic and financial growth and the price index of the country, if the current scenario continues.
