A London Based Digital Publication Covering Diplomatic & Business Activities Globally

Friday, March 29, 2024

Global Economic Recovery too Weak: G-20

Global Economic Recovery too Weak: G-20
Global Economic Recovery too Weak: G-20

(St Petersburg) – G-20 leaders have warned that global economic recovery is too weak, with the risk of a further slowdown and some emerging markets showing particular fragility. They backed a “St Petersburg action plan” to boost growth and employment.
In a reference to concerns by emerging markets about the tapering of stimulus programmes, G-20 leaders have vowed that future changes to monetary policy settings will be “carefully calibrated and clearly communicated”. “Despite our actions, the recovery is too weak, and risks remain tilted to the downside,” the leaders said in their final communique after their two-day meeting in St Petersburg shadowed by the Syria crisis.
“Global growth prospects for 2013 have been marked down repeatedly over the last year, global rebalancing is incomplete, regional growth disparities remain wide, and unemployment, particularly among youth, remains unacceptably high,” the statement said.
While there are signs of recovery in the euro area and growth has continued in emerging market economies, it has slowed down in developing countries, it added. The statement appeared to recognise the need for central banks such as the US Federal Reserve eventually to end their monetary easing policies.

Latest Posts

Latest Posts

Stay in touch

To be updated with all the latest news, offers and special announcements.

RELATED ARTICLES

UAE & Turkmenistan expand Economic ties

Turkmenistan's Berdimuhamedow urges UAE collaboration in gas field development....

Crown Prince Appreciates the World Governments Summit Team

The Crown Prince Appreciates the valuable efforts of the...

WTO Promotes Consensus

The final World Trade Organization General Council meeting before...

UK and Azerbaijan celebrate growing bilateral relations

UK PM Rishi Sunak congratulated President Ilham Aliyev on...

World Government Summit brings Global leaders to Dubai

The pre-summit day of the World Governments Summit (WGS)...

HH Shiekh Mohammed bin Rashid Meets Youth

Sheikh Mohammed bin Rashid Al Maktoum met with Arab...

Shiekh Hamdan Bin Zayed Honors Environmental Achievers

His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s...

Princess Kate shares a Message after meeting HM the King

Prince William and Kate Middleton share a Children's Mental...

HM King of Sweden to visit Europe

King Frederik X of Denmark and Queen Mary will...