ECONOMY: MACROECONOMIC POLICY
Building a fairer and greener world
medium-term growth prospects and help address the longer-term challenges of climate change, digital transformation and demographic shifts, ambitious structural reforms are required. Efforts should aim to facilitate investment, enhance business dynamism and job creation, strengthen labour force participation, improve access to quality education and skills development, and boost trade. OECD’S PARTNERSHIP WITH THE G20 The Organisation for Economic Co-operation and Development has been a longstanding and trusted knowledge partner of the G20. Consistent with the above reform agenda, we are currently supporting the priorities of Brazil’s 2024 G20 presidency through our work on: • Improving productivity and equality of opportunity. The OECD is working with the Brazilian G20 presidency to catalyse ambitious and effective action, seeking to improve access to quality education, enhance job quality, strengthen social safety nets, boost business innovation and prioritise investments in green infrastructure, while
T he global economy has shown grow by 3.1% in 2024 and 2025. This is slightly down from 3.4% growth in 2023 . Meanwhile, inflation has broadly continued to decline in 2024 to 5.9% from 6.3% in 2023. It is projected to decline even further to 3.6% in 2025. Major downside risks come from geopolitical tensions that threaten to further disrupt the rules-based trading system, possibly persistent inflation especially in the services sector, high debt levels and mounting debt-service costs, particularly in developing economies. As the premier forum for global economic cooperation, the G20 is playing a key role in facilitating multilateral solutions to these shared challenges. To promote strong, sustainable, inclusive and resilient economic development and growth, G20 economies should continue prioritising prudent monetary and fiscal policies remarkable resilience in a challenging environment. Across the G20 economies, gross domestic product is projected to to contain inflation, rebuild fiscal buffers and ensure debt sustainability. To improve G20 members must continue to develop multilateral solutions to ensure strong, sustainable, inclusive and resilient economic development and growth Mathias Cormann, secretary-general, Organisation for Economic Co-operation and Development
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G20 BRAZIL: THE RIO SUMMIT — 2024
globalgovernanceproject.org
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