World Economy set to hit $100 trillion in 2022: Report

India looks set to overtake France next year and then Britain in 2023 to regain its place as the world`s sixth-biggest economy.

The world economic output is set to hit the $100 trillion mark for the first time next year says a report by British business consultancy firm Cebr. The report further added, China will take a little longer than previously to overtake the United States of America as the No.1 leading economy

The consultancy firm also predicted China will become the world’s top economy in terms of dollars by 2030, two years later than forecast in last year’s World Economic League Table Report in 2021.

“The important issue for the 2020s is how the world economies cope up with the inflation during the pandemic, which has now reached 6.8 per cent in the United States,” said Cebr Deputy Chairman Douglas McWilliams.

He also further added, ” We hope that a relatively modest adjustment to the tiller will bring the non-transitory elements under control. If not then the world will need to brace itself for a recession in 2023-24.”

India looks to overtake France by next year and then the United Kingdom in 2023 and set to regain its place as the world’s sixth-biggest economy in terms of economic output, Cebr said. The report also showed European economies like Germany and Russia is set to breach the world top 10 economies by 2033 and 2036. Indonesia looks on track for ninth place in 2034.

 

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