The G20 lowering the target to 1.8% additional growth until 2018 – RTVE

The G20 lowering the target to 1.8% additional growth until 2018 – RTVE

EFE

Countries of G20 meeting these days in Australia, have lowered the target further growth of the global economy from 2 to 1.8% above forecasts through 2018, according to a statement issued Sunday by the finance ministers and central bank governors of the block at the end of their meeting in Cairns

“This result implies that We are in 90% of the way to reach the coveted 2% growth we set in our Brisbane meeting (in February). We are committed to strengthen and achieve growth target at the summit of leaders from Brisbane ( next November), “he assured the Treasury Secretary Australia, Joe Hockey.

The downward adjustment of the target comes after the Organization for Economic Cooperation and Development (OECD) downgraded its latest forecasts projecting growth of its member countries, especially in the eurozone and Japan, in 2014 and 2015.

Hockey explained that while the world economy gains momentum still risks , and added that the G20 recognizes that are difficult in this context many of the decisions and actions to move the global economy.

The G20 members are the European Union, the G7 (Germany, Canada, United States, France, Italy, Japan and the UK), Saudi Arabia, Argentina, Australia, Brazil, China, South Korea, India, Indonesia, Mexico, Russia, South Africa and Turkey.

Spain go to these conferences as guest since 2010 , while New Zealand was signed by Australia for meetings this year.