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Date: 21/09/2014 07:15 clock
With a surge in investment, especially in infrastructure, leading industrialized and emerging economies (G20) can boost the global economy. The finance ministers and central bank governors reaffirmed the goal by 2018 to create a 2013 forecast two per cent growth in Cairns, Australia. They followed the German proposals to rely mainly on private investment.
They also warned of geopolitical and financial market risks, expressed concern about the Ebola crisis in Africa and reaffirmed the vigorous fight against companies that exploit tax loopholes. The decisions are an important element in stabilizing the world economy, said Finance Minister Wolfgang Schäuble
Schäuble. <- - MediaCon!>: ESM is taboo
Schäuble stressed that the euro rescue fund ESM but was off-limits to fiscal stimulus: “First and foremost, the Fund is here to make sure it is not needed and creates trust,” he said in Cairns. “With the financing of investment that has nothing to do.” More growth measures are at the G20 summit in November in Brisbane be tapped.
More private investment provided
“Today we have an infrastructure initiative decided to improve quality investments, “it is said in the final declaration. Australia’s Finance Minister Joe Hockey later added: “We have agreed to come away from government-financed growth measures to more private investment This demand came mainly from Berlin..” The five-year program looks like a database before, informed private investors on planned projects.
“I congratulate the G20 for significant progress in strategies for medium-term growth,” said the head of the International Monetary Fund, Christine Lagarde. The G20 urged the developed countries to pay attention to the risks of deflation. “We know that in times of low interest can accumulate excessive risk in the financial markets,” it said in the statement
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With data transfer tax evaders Tracking
To fight against corporations who exploit loopholes to avoid tax payments, Hockey said: “We have approved far-reaching initiatives to track down tax evaders through automatic exchange of information We ask others. it to do the same, so no one can hide somewhere. ” By 2018, the data sharing, based on each function so that no large company can handle through profit shifting more taxes.
The Ministers expressed concern about the impact of the Ebola outbreak in West Africa. “This could have serious consequences for growth and stability in the countries and the region concerned and we emphasize the need for a coordinated international response.”
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