Carirns, Australia.- The finance ministers and governors of central banks of the G20 today agreed to boost investment, especially in infrastructure and the private sector, and reaffirmed their intention to combat cross-border tax evasion.
“We have developed specific measures to support growth, to drive better investment to create jobs, to expand trade and competition,” said the final declaration of the meeting held in the city Cairns Australian stressed DPA.
The G20 announced a five-year program for infrastructure plans, including a platform of data on planned projects in order to inform investors.
” investments are essential to stimulate demand and accelerate growth, “the statement said, according to which it will seek” support investment in public and private quality. “
But according to the Australian Minister for Finance, Joe Hockey The G20 agreed to “get away from growth measures financed by the state to bring more private investment.”
“The initiative will include key measures (…) to improve investment climates, important in our efforts to attract private sector participation, “says the declaration.
The German government of Angela Merkel was recently favored boost investment, especially by businesses. And at its last meeting, the finance ministers of the euro area also bet by way of investments to boost its ailing economy.
The German Finance Minister, Wolfgang Schäuble, welcomed the initiatives in Australia . However, it was against the funds of the European Stability Mechanism (ESM) could be used for injections into the economy, as suggested in Brussels.
“The fund is there to build trust and not have to be used, “Schäuble said. “It has nothing to do with the financing of investments.”
According to the conclusions adopted today in Cairns, the goal of the G20 is that until 2018 the overall Gross Domestic Product (GDP) increase by more than 2% 2013 forecasts.
The Australian minister believes that this goal can be achieved because, according to the International Monetary Fund (IMF) and the Organization for Economic Cooperation and Development in Europe, with the planned measures achieve a further increase in GDP of 1.8% until 2018.
The G20 discussed further steps towards the summit of Heads of State and Government to be held in November in Brisbane.
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“I congratulate the G20 for its clear progress on strategies for growth in the medium term,” said the general director of the IMF, Christine Lagarde
The group warned on the other hand deflationary risks: “We are aware of the possibility of increased excessive risk in the financial markets, especially in a climate of low interest rates.”
The G20 also reaffirmed its commitment to the fight against cross-border tax evasion adopting global agreement designed to automatic exchange of tax information. “We will start automatically exchange information between us and other countries in late 2017 or 2018,” said the group
The finance ministers also expressed concern about the Ebola outbreak in West Africa.: “It could have serious consequences for growth and stability of the affected countries and the region and highlight the need for a coordinated international response.”
On the other hand, eventually Russia will be present at the next summit G20 despite its role in the Ukrainian conflict, said in a statement to Radio Foreign Minister of Australia, Julie Bishop.
In recent months raised voices asking who would be excluded from the summit to Russian President Vladimir Putin, including Australia. But now “the opinion is that President Putin should come and face international condemnation of Russian behavior towards Ukraine,” Bishop said.
“Australia is the host, but do not have the right to cancel invitations have already been sent. That would have required a consensus within the G20 and no consensus, “said the minister.
The G20 represents 85% of the world economy.
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