Off the wire
• LME base metals close lower on Tuesday  • Obama calls Ukrainian president over peace talks  • Italy's industrial production drops 0.8 pct in 2014  • Youth unemployment becomes major problem in Latvia: Education Minister  • Feature: Kosovo witnesses dramatic surge of illegal emigration  • British FTSE 100 closes slightly lower on Tuesday  • Saudi Arabia signs deal with Bangladesh to hire 120,000 workers a year  • Ghana reaps nearly 979 mln USD from oil in 2014  • Seven killed, 80 hospitalized in suspected cholera outbreak in Kenya  • US oil firm completes seismic acquisitions in Kenya  
You are here: 　 Home

G20 meeting ends with 2 percent global economic growth target

Xinhua, February 11, 2015 Adjust font size:

A Group of 20 (G20) finance ministers and central bank governors wrapped up their two days of meeting here Tuesday with a target of two percent of global economic growth by 2018.

Turkish Deputy Prime Minister Ali Babacan said in a press conference that the G20 has committed to developing comprehensive growth strategies to achieve strong, sustainable and balanced growth and enhancing the growth potential.

"Our growth strategies aim to increase investment, lift employment and participation, enhance trade and promote competition," he said.

When answering the question on the risks of "reform fatigue," Babacan admitted that some countries have been facing with it as it brings political cost.

However, only those who overcome the difficulties can sustain the economic growth, he added.

Babacan also said that as most of the G20 countries expressed their commitment to the reforms, 2015 will be the tough year of implementation of these reforms.

During the first day of their meeting, the finance ministers and central bank governors focused on the world agenda and discussed the economic growth and employment in key economies.

The meeting was attended by all G20 member states. Turkey also invited Azerbaijan together with Malaysia. Endit