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World Economic Outlook Report
November 21 , 2017
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- The report “World Economic Outlook” is being published biannually by International Monetary Fund (IMF).
- It ranks over 200 countries in terms of per capita GDP based on Purchasing Power Parity (PPP) which is released biannually.
- According to this 2017 Report, India has moved up one position to 126th in terms of per capita GDP of countries, as per IMF data but still ranked lower than all its BRICS peers.
- Qatar remains the world’s richest as per the IMF data.
- PPP is the rate at which the currency of one country needs to be converted into that of a second country.
- It is used worldwide to compare the income levels in different countries.
- It is to ensure that the expenditure on a similar commodity must be same in both currencies when accounted for exchange rate.
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