Gujarat, July 17: In her opening remarks at the 3rd Finance Ministers and Central Bank Governors meeting in Gujarat’s Gandhinagar on Monday, Union Finance Minister Nirmala Sitharaman noted that global economic growth is below its long-run average, is still uneven, and is still fraught with uncertainty.
“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.
In light of this, she called for coordinated worldwide action to get through this difficult time in her six-minute remarks and urged discussion on these topics.
She used the famous quote from Mahatma Gandhi, “The future depends on what we do in the present,” to emphasize their obligation as the central bank governors and finance ministers of the G20 nations to steer the world economy toward inclusive, sustainable, and balanced growth.
In Gandhinagar, Gujarat, the third G20 Finance Ministers and Central Bank Governors (FMCBGs) meeting, which will last for two days, is being held under the Indian G20 Presidency.