The current head of the Group of 20 says governments must do more to jolt the global economy out of its growth rut.
Turkish Deputy Prime Minister Ali Babacan, who is responsible for his country’s economy, says the worst of the slump may be over. But recent economic developments aren’t yet satisfactory.
Speaking ahead of the G-20 meeting in Washington that starts today, he claimed there are bright spots in some countries, but global growth remains imbalanced and uneven.
As a result, G-20 countries should do more to carry out commitments made last year. For example, he says Australia has to follow through on jumpstarting growth in infrastructure and trade.
Babacan adds the G-20 should also come up with plans to boost low-income developing countries.