Brasília – Strategies to raise global Gross Domestic Product (GDP), structural reforms aimed at medium-term growth and the contributions needed from the world’s 20 richest countries for the fulfillment of the 2030 Agenda for Sustainable Development Goals (SDGs) will be the main topics of the G20 Summit 2016 that will take place on September 4 and 5 in Hangzhou, China. The results expected by Brazil were presented this Thursday (25) in Brasília by the Ministry of Foreign Affairs.
According to Itamaraty’s under-secretary general for Economic and Financial Affairs, Carlos Márcio Cozendey, a new action plan should be approved to update growth strategies that were formulated by the countries in 2014. The goal is to raise the collective GDP in at least 2% until 2018.
“There will be monitoring and assessment of the current action plan and the countries will point out the economic measures that they plan to adopt”, said Cozendey. He said that among the commitments made in 2014, up until now, 45% of them were implemented, 40% are currently being executed and 15% have presented limited progress.
The G20 is the group of 20 countries with economies that account for 85% of the global GDP and around 65% of the world’s population. The members of the group are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom and the United States, plus the European Union.
*Translated by Sérgio Kakitani
