Context:
IMF releases “World Economic Outlook (WEO): A Critical Juncture Among Policy Shift” Report
Key Observations:
- Growth Forecasts – Global growth is revised down to 2.8% for 2025 due to trade tensions and policy uncertainties.
- India’s growth forecast is 6.2%, reflecting a slight decline from earlier projections.
- Emphasis on healthy ageing to enable older individuals to remain active in the labor force.
- Aging Economies –
- Declining fertility rates and increased life expectancy are shifting economies from a demographic dividend to a demographic drag.
- The global average age is expected to rise by 11 years between 2020 and 2100.
- Healthy Ageing –
- Improved longevity has enhanced the functional capacity of older individuals.
- A 70-year-old in 2022 had cognitive abilities comparable to a 53-year-old in 2000.
- Benefits of Healthy Ageing –
- Global GDP Growth – Healthy ageing could contribute an additional 0.4% to global GDP growth between 2025–2050.
- Labor Force Participation – Health-focused policies can increase participation rates among older workers.
Source: Free Press Journal
Previous Year Question
Which of the following gives ‘Global Gender Gap Index’ ranking to the countries of the world?
[UPSC Civil Services Exam – 2017 Prelims]
(a) World Economic Forum
(b) UN Human Rights Council
(c) UN Women
(d) World Health Organization
Answer: (a)