G20 puts growth before austerity | Bangkok Post: news

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G20 puts growth before austerity

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Facing a fragile recovery and the threat of a new economic slowdown, the G20 this weekend agreed to prioritise boosting growth and jobs and for now to pay less attention to reducing swollen budget deficits. 

Participants of the G20 Finance Ministers and Central Bank Governors' meeting pose for a family photo in Moscow, on July 20, 2013. The Organisation for Economic Co-operation and Development (OECD) has presented the G20 nations with a bold strategy to crack down on tax avoidance by corporate giants and the super rich, and so boost overstretched national budgets.

At a meeting in Moscow in an exhibition hall just outside the Kremlin walls, the finance chiefs from the top 20 advanced and emerging economies in the world showed an unusual unanimity over the risks and priorities for the economy.

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