Global Growth Uneven With Uncertain Outlook: Sitharaman At G20 FMCBG Meet

Global economic growth is below its long-run average and remains uneven, with the uncertainty around the outlook remaining high, Union Finance Minister Nirmala Sitharaman said on Monday in her opening remarks at the inaugural session of the 3rd Finance Ministers and Central Bank Governors meeting in Gujarat's Gandhinagar.

“Since we last met in April, the global economic growth is below its long-run average and remains uneven further the uncertainty around the outlook remains high and downside risks to the outlook still persist,” Sitharaman said.

Against that context, in her six-minute remarks, she called for coordinated international efforts to navigate this challenging period and sought conversation on these issues.

Quoting one of Mahatma Gandhi's famous lines, “The future depends on what we do in the present”, she said the statement conveys the responsibility they have as the finance ministers and central bank governors of the G20 countries in steering the global economy towards sustainable, balanced, and inclusive growth.

The two-day-long Third G20 Finance Ministers and Central Bank Governors (FMCBGs) meeting under the Indian G20 Presidency is underway in Gandhinagar, Gujarat.

Union Finance and Corporate Affairs Minister Nirmala Sitharaman and the Reserve Bank of India (RBI) Governor Shaktikanta Das, are jointly chairing the meeting.   

The 3rd G20 FMCBG meeting saw the participation of Finance Ministers and Central Bank Governors of the G20 members, guest countries, and heads of International Organisations.

The meeting will delve into five thematic sessions, covering Global Economy and Global Health, Sustainable Finance and Infrastructure, International Financial Architecture, International Taxation, and Financial Sector and Financial Inclusion. (ANI)