central Finance Minister Nirmala Sitharaman said on Friday that the global economy, which has been facing difficult times for the last several years, is increasing its chances of a ‘soft landing’. ‘Soft landing’ in an economy refers to a cyclical downturn during economic growth that ends without a full-scale recession. The Finance Minister said that working together with different countries and multilateral financial institutions will bring good days, but he also cautioned that the economies are not growing fast enough right now.
Global economy will have a soft landing
Sitharaman told a ‘global think tank’ in Washington-DC, “During the two-day talks at the International Monetary Fund and the World Bank, the possibility appeared that there would be a ‘soft landing’ of the global economy. “The efforts of the International Monetary Fund, central banks and all institutions and governments have kept inflation low for some period, so the likelihood of a ‘soft landing’ for the global economy is increasing.”
These are the top economies of the world
Talking about the top economies of the world, America ranks first. America’s GDP is $28.78 trillion. The second place belongs to China, whose GDP is 18.53 trillion dollars. Germany is in third place with a GDP of $4.59 trillion. Japan is in fourth place with $4.11 trillion. India is at fifth position with a GDP of $3.94 trillion. The UK is in sixth place with $3.5 trillion. France is in seventh place, whose GDP is 3.13 trillion dollars. Brazil is in eighth place with $2.33 trillion. Italy is at 9th position with $2.33 trillion. At the same time, Canada is in tenth place with $2.24 trillion.
