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SA finance minister briefs business leaders on G20's ministerial meeting

Xinhua, July 27, 2016 Adjust font size:

South African Finance Minister Pravin Gordhan said on Tuesday that the just-concluded ministerial meeting of G20 in China discussed inclusive growth and fiscal discipline, among others.

Gordhan told business leaders in Johannesburg at a breakfast briefing organized by Ernst & Young in Johannesburg that some of the issues discussed at the meeting are similar to what his country has been advocating for.

Gordhan returned to South Africa from China where he attended the meeting to prepare for the G20 Summit, scheduled for September.

Gordhan said, "We discussed how to navigate in the current global climate and solve problems. The G20 Summit will address issues we are aware of. South Africa is aware of the paradigm shift in the world. The Gross Domestic Product (GDP) on its own is not enough. We have to strive for inclusive growth and take everybody with us and not leaving anyone behind."

He said the meeting also discussed creating jobs for the youths and women.

G20 promotes inclusive growth and member countries should try to promote trade in a balanced way, said the minister.

Gordhan also attended a tax symposium in China where countries were encouraged to be innovative.

South Africa is in the process of establishing a one-stop shop to reduce red tape, the country also has to promote fiscal monitoring and continue its reform, Gordhan said.

He added G20 is in line with what South Africa is doing in boosting partnerships between government, organized labour and business. Enditem