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Peer review of comprehensive growth strategies at the G20 FWG

On 2 and 3 September, the G20 Framework Working Group (FWG) held its fourth meeting in Pilanesberg, South Africa. The meeting was attended by officials of the G20 Finance Ministries and Central Banks, and experts from international organisations.

The key focus of the Pilanesberg meeting was a peer review of members’ revised versions of the comprehensive growth strategies, which Leaders in St. Petersburg committed to deliver at the Brisbane Summit in November. With the assistance of the international organisations, FWG members assessed the level of ambition and concreteness of reform measures put forward by countries in the four priority reform areas of employment, investment, trade and competition in addition to macroeconomic policies. Members also assessed their progress towards the G20’s collective commitment to lift G20 GDP by more than 2 per cent by 2018. Members discussed the importance of implementation of the growth strategies and improvements to the G20’s Accountability Assessment Process.

The FWG meeting also held discussions on the state of the global economy, and conducted a discussion on various growth scenarios.

The outcomes of the meeting were an important input into the G20 Finance Ministers and Central Bank Governors Meeting on 20-21 September in Cairns.

 

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