IMF confirms India’s GDP worst-hit among G20

NEW DELHI: A tweet put out by the IMF’s chief economist

Gita Gopinath

confirmed that the Indian economy saw the steepest contraction in the June quarter among

G20 countries

.


“In #GreatLockdown Q2 2020 GDP growth at historical lows. Graph puts

G20

growth numbers on a comparable scale, quarter-on-quarter non-annualized. Should expect rebounds in Q3 but 2020 overall will see major contractions. China recovers strongly in Q2 after collapse in Q1,” the tweet read.



The graph shows all countries except China registering GDP (gross domestic product) contraction. While China's economy is shown to have expanded by a robust 12.3 per cent over the March quarter on a non-annualised basis, the UK is the most affected after India, with a GDP contraction of 20.4 per cent.

The US economy is shown to have shrunk 9.1 per cent on a quarterly basis.