Global growth remains weaker: FM
Says we still have work left to do in addressing intl challenges
image for illustrative purpose
New Delhi: Finance Minister Nirmala Sitharaman on Monday said that in the medium term, global economic growth prospects have weakened further as the recovery has been slow and uneven.
Addressing a webinar on ‘Strong Sustainable Balanced and Inclusive Growth’ here, she said, “Since the pandemic, the global economy has been grappling with multiple crises, adversely affecting global growth. While the recovery is underway, it remains slow and uneven. The current pace of global growth remains quite weak, well below the 3.8 per cent average in the two decades before the pandemic and looking ahead over the medium term, growth prospects have weakened further.”
Policy coordination, both global as well as domestic, is critical to ensure that growth comes back on track and remains strong, sustainable, balanced and inclusive, she added. To this effect, she added that the G20 New Delhi Leaders’ Declaration (NDLD) underscores the urgency of implementing well-calibrated macroeconomic and structural policies to bolster equitable growth and enhance macroeconomic and financial stability.
