NEW DELHI: The findings from the latest World Economic Forum (WEF)  market survey of almost 22,000 people across 29 countries revealed that only 7 percent globally believe that their country's economy has already recovered, with this view being the most widely held in China (56 percent).  An average of three in four adults believe it will take at least two more years for their country's economy to recover from the COVID19 pandemic and that businesses and governments are expected to share this responsibility, even as Indians are the third most optimistic lot after their counterparts from China and Saudi Arabia, a study showed.

The comparable figure for Saudi Arabia was 25 percent and 11 percent for India. Quoting the study, the World Economic Forum said in a statement that the responsibility to lead this economic recovery falls to both governments and businesses, but civil society plays a crucial role and must not be left behind. While China topped the optimism chart with as many as 83 percent of respondents there saying their economy has either already recovered or will recover within one year, it was followed by 63 percent in Saudi Arabia and 38 percent in India and the US each.

 Among Indian respondents, 38 percent said the recovery will take 2-3 years, while 24 percent expect it to take even longer, according to the survey. Globally, 39 percent believe it will take their economy more than three years to recover from the pandemic, with those in Russia (66 percent) and South Africa (62 percent) most likely to hold this view.

RBI extends current account rules implementation timeline to October 31

Former US Ambassador predicts- 'India to lead the world by 2030, will be ahead in every field'

Int’l Monetary Fund approves largest SDR allocation in history to boost liquidity