Ksenia Yudaeva: The G20 Summit will focus on slow growth in the world's leading economies and possible sources of its acceleration
The upcoming G20 Summit in St.Petersburg will focus on slow economic growth in most developed and developing countries and new sources of long-term growth, Chief of the Presidential Experts' Directorate and the Russian G20 Sherpa Ksenia Yudaeva said.
"The biggest concern today is slow growth in most developed and, in my view, all developing countries," she said.
According to Ms. Yudaeva, the G20 used to focus on general financial risks in previous years, but now the Leaders are to discuss sources for long-term growth. "This is the main topic of discussions on current economic trends, along with the issues of investment since investments are an obvious source of long-term growth," she added. In particular, the Leaders will focus on facilitating private investment.
"Each country has offered an official strategy based on its own economic forecasts," the Russian Sherpa continued. "The participants have put forward several proposals on structural reforms that can boost growth and create jobs." According to Ms. Yudaeva, the participants will focus specifically on the issue of completing in due terms the 2010 reform of the International Monetary Fund.
Ms. Yudaeva said that the Summit's key document is the G20 Leaders Declaration along with 10 to 12 supporting documents. Several additional documents are being prepared to be discussed and signed by the G20 Leaders.