G-20 Ready for Further Action on Global Economic Risks

Economy Politics

Fukuoka, June 9 (Jiji Press)--Group of 20 finance ministers and central bank chiefs expressed Sunday their readiness to take further action to deal with downside risks to the global economy stemming from the U.S.-China trade friction.

In a communique summing up their two days of discussions in the southwestern Japan city of Fukuoka, the policymakers from the G-20 major advanced and developing economies said that global growth "remains low and risks remain tilted to the downside."

"Most importantly, trade and geopolitical tensions have intensified," the G-20 officials said. "We will continue to address these risks, and stand ready to take further action."

The communique said, "Global growth appears to be stabilizing, and is generally projected to pick up moderately later this year and into 2020."

But to tackle downside risks becoming evident, the communique stressed, "Fiscal policy should be flexible and growth-friendly."

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Jiji Press