The world’s top financial chiefs Friday renewed their commitment to use their budgets to juice lackluster global growth and warned against overreliance on monetary policy.
“We reiterate our commitments to using all policy tools — monetary, fiscal and structural — individually and collectively to foster confidence and strengthen growth,” the Group of 20 largest economies said in their official statement after two days of talks.
Although the G-20 noted that financial markets have recovered most of the ground lost at the beginning of the year, when worries about China and weak oil sparked selloffs around the globe, it said “growth remains modest and uneven, and downside risks and uncertainties to the global outlook persist.”
[Source:- Marketwatch]
