Cairns (Australia) (AFP) – Finance ministers from the G20 countries met on Saturday in Australia for two days of discussion is “determined” to do more to employment and sluggish global growth, said the host country .
Gathered in Cairns, a city on the east coast of Australia, the central bankers and central bank governors of the G20 countries should consider including their growth target for the next five years and proposals for the fight against tax optimization, a theme dear to France, represented by the Minister of Finance, Michel Sapin.
“We are determined to make the world better, to drive growth in the global economy, create more jobs and better paying jobs, build infrastructure to allow children to have a better quality water, education and medical care, “said the Australian Treasurer Joe Hockey, opening the debate.
Australia holds the rotating presidency of the G20, the Cairns meeting in November will be followed by a summit of heads of state and government in Brisbane, another town in Australia’s east coast.
“I have no doubt that after the result of the deliberations of the meeting this weekend, followed by the Summit of Heads of State and Government in Brisbane, we have the opportunity to change the destiny of the global economy, “said Treasurer Hockey equivalent of a Minister of Economy and Finance.
But those good intentions may be adversely affected by the economic situation has deteriorated in recent months and threatens the growth target announced by the finance ministers of the G20 at a previous meeting in February in Sydney
-. ‘difficult objective to achieve’ –
central bankers had then set a goal to increase the value of gross domestic product (GDP) G20 additional 2% by 2019, which means increase global GDP by more than 2,000 billion dollars.
The French finance minister Michel Sapin, told journalists at the end of the first day of the meeting in Cairns, this growth target would be “difficult to achieve” given the current economic situation.
“We meet at a time when almost all growth prospects have been revised downwards” for 2014 and 2015, said Mr. Sapin.
He stressed that the important thing was to “regain growth” that is “too low in 2014,” stressing the need for increased investment, both private and public.
On Monday, the Organization for Economic Cooperation and Development (OECD) noted a slowdown in major world economies, lowering its growth forecast for the euro area by 0.4 percentage points compared with a previous estimate in May on background of geopolitical and financial risks important.
The crisis in Ukraine has curbed a little more the outlook for economic activity in the world, marked by the slowdown in major emerging countries, while the gross domestic product (GDP) Japanese suffers from increasing a consumption tax since April 1.
A Cairns, Secretary General of the OECD, Angel Gurria, gave the G20 a project advocating radical changes in international tax law in order to fight against the sophisticated tax strategies of companies that cost billions to the community.
On this subject, Michel Sapin Sunday will promote progress in the fight against tax optimization, these sophisticated strategies – usually notice -. used by multinationals to pay less tax as possible
On the eve of the meeting in Cairns, the NGO One France called Mr. Sapin to “lead the way for an effective fight against corruption and tax evasion, which deprive developing countries of more than a trillion dollars a year,” according to the organization to fight against poverty, founded by Irish singer Bono.
Financial regulation and the fight against corruption must be tackled by the G20 countries.
No comments:
Post a Comment