The world’s biggest economies have agreed to target reforms aimed at adding more than $2tn to the global economy over five years, marking a shift in emphasis at G20 level from championing austerity to promoting growth as the financial crisis recedes.
“We will develop ambitious but realistic policies with the aim to lift our collective GDP by more than 2 per cent above the trajectory implied by current policies over the coming five years,” said ministers in a joint G20 communiqué.
“This is over $2tn more in real terms and will lead to significant additional jobs,” it said.
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