Question 1

The WESP report is published by the World Bank or the International Monetary Fund.

Accepted Answer

It is jointly produced by UN DESA, UNCTAD, and the five UN regional commissions.

Question 2

India's growth drop to 6.6 percent implies it lost its rank as the fastest-growing major economy.

Accepted Answer

India remains the world's fastest-growing major economy despite the moderation from 7.4 percent.

Question 3

Consider the following statements regarding the World Economic Situation and Prospects (WESP) 2026 report:
1. The WESP report is jointly produced by UN DESA, the World Bank, and UNCTAD.
2. The report projects global economic output to grow at 2.7 percent in 2026, which is below the pre-pandemic average of 3.2 percent.
3. According to the report, India's domestic consumption and public investment are expected to largely offset the adverse impacts of higher US tariffs.
How many of the above statements are correct?

Accepted Answer

(b) Only two — Statement 1 is incorrect: The WESP report is produced by UN DESA, UNCTAD, and the five UN regional commissions (not the World Bank). Statement 2 is correct: Global growth is projected at 2.7 percent, below the 3.2 percent pre-pandemic average. Statement 3 is correct: The report cites India's resilient consumption and public investment as buffers against higher US tariffs. Hence, exactly two statements are correct.

Question 4

Match List I (Organization) with List II (Flagship Economic Report):
List I:
A. World Bank
B. International Monetary Fund (IMF)
C. UN DESA
D. World Economic Forum (WEF)

List II:
1. World Economic Situation and Prospects
2. Global Economic Prospects
3. World Economic Outlook
4. Global Risks Report

Select the correct answer using the code given below:

Accepted Answer

(b) A-2, B-3, C-1, D-4 — The World Bank publishes the Global Economic Prospects (A-2). The IMF publishes the World Economic Outlook (B-3). UN DESA (along with UNCTAD and regional commissions) publishes the World Economic Situation and Prospects (C-1). The World Economic Forum publishes the Global Risks Report (D-4).

Question 5

Assertion (A): The WESP 2026 report projects global trade growth to slow down significantly to 2.2 percent in 2026.
Reason (R): Strategic rivalries, trade fragmentation, and rising tariffs are eroding multilateralism and disrupting global trade markets.
Select the correct answer from the codes given below:

Accepted Answer

(a) Both A and R are true and R is the correct explanation of A — The Assertion is factually correct as WESP 2026 projects trade growth to slow to 2.2 percent from 3.8 percent in 2025. The Reason is also correct and directly explains the Assertion; the report explicitly blames the slowdown on high US tariffs, trade fragmentation, and geopolitical rivalries eroding multilateralism.

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