These are the 10 Fastest Growing Economies in the World

Finance news from IMF, International Monetary Fund reveals the fastest growing economies in the world. Probably, you may fail in guessing the countries on the list! Because this finance news is quite amazing. Want to know whether your country is on the list? Scroll down and peep into it. Welcome to RipeCandy’s hub of news and facts.

Finance news- These are the 10 Fastest Growing Economies

These are the 10 Fastest Growing Economies in the World

According to IMF’s finance news reported through World Economic Outlook, these are the 10 fastest growing economies in the world:

1) Myanmar

2) Ivory Coast

3) Bhutan

4) India

5) Laos

6) Iraq

7) Cambodia

8) Tanzania

9) Bangladesh

10) Senegal

Myanmar tops the list with an expected GDP of 8.6%. The analyst while examining this finance news pinpoints that world’s fastest growing economies have the following factors in common:

  • Strategic political and economic restructuring.
  • Increased potential consumers
  • Availability of investors
  • Exports

See the complete list here:

10 Fastest Growing Economies

The report confirms that world’s fastest growing economies may not be the biggest or most advanced economies of the world. It is also evident that inequity and poverty in these 10 growing economies are not curbed.

When we depict the report in world map, fast growing economies are more experienced in Asia and Africa. Myanmar, Bhutan and Ivory Coast are showing incredible growth. A booming growth of economies like India and Laos can be projected from the trend.

The report says that most developed economies shows a slow or negative growth trend. The growth is just 2%. And shockingly, Japan has mere 1%, which will continue it’s decline to the next year. Russia and Brazil are reviving from negative growth stage.Globally the growth rate is lowered into 3.2% where  the expected rate was 3.4%.

The growth of fast economies is estimated on the basis of GDP. Many economists argue that following GDP only approach is not practical in this dynamic economy.  They pinpoint the need for looking beyond GDP. 

 

Credits 

World Economic Forum

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