The Strategist

G20: Global economic growth is below average and remains fragile

07/19/2023 - 10:40

According to the conclusions of the G20 conference of finance ministers and central bank governors, global economic growth is below its long-term average and continues to be unequal.

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"Global economic growth is still uneven and below its long-term average. The outlook remains highly ambiguous," reads the statement. "The balance of risks remains weighted to the downside with a considerable tightening in global financial conditions that might worsen debt vulnerabilities, persistent inflation, and geo-economic tensions."

According to the meeting, "well-tuned monetary, fiscal, financial, and structural policies are needed to stimulate growth, reduce inequality, and maintain macroeconomic and financial stability."

"We will keep improving macroeconomic policy collaboration and supporting progress toward realizing the 2030 Agenda for Sustainable Development," the ministers added.