The International Monetary Fund on Tuesday forecast that Japan's economy will grow 2.8% in 2021 from a year before, down 0.5 percentage point from its April estimate as the country continues to struggle to contain the spread of COVID-19.
The global growth projection remained unchanged at 6.0%, as dimmed prospects for Japan and emerging economies such as China and India were offset by improved outlooks for the United States and some other major advanced economies.
In an update of the World Economic Outlook report, the Washington-based institution highlighted the continuing divergence of economic recoveries from the pandemic due to differences in the pace of COVID-19 vaccine rollouts and policy support.