IMF cuts Japan’s 2021 growth forecast to 2.4% on latest COVID wave

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Kyodo News

The International Monetary Fund on Tuesday forecast Japan’s economic growth to be 2.4 percent in 2021 from a year before, down 0.4 percentage point from its July estimate as the most recent wave of coronavirus infections further curtailed business activities in the world’s third largest economy. Global growth projection for 2021 was trimmed 0.1 point to 5.9 percent, reflecting forecast downgrades for advanced economies, partly due to longer-than-expected supply disruptions stemming from the coronavirus pandemic, and also for low-income developing countries struggling with the slow rollout of C…

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