Financial leaders of the world’s biggest economies will say on Sunday that global growth is likely to pick up this year and the next, but that intensified trade and geopolitical tensions were among the key downside risks, the final draft communique showed.
Finance ministers and central bank governors of the world’s 20 biggest economies, the G20, are discussing the economy in the Japanese city of Fukuoka amid rising trade tensions between the world's two biggest economies -- the United States and China.
“Global growth appears to be stabilizing, and is generally projected to pick up moderately later this year and into 2020,” said the draft, seen by Reuters.
“However, growth remains low and risks remain tilted to the downside. Most importantly, trade and geopolitical tensions have intensified. We will continue to address these risks, and stand ready to take further action,” the communique said.
G20 says global growth to pick up but trade tensions pose key risk