Arab Today, arab today merkel economic leaders call for fiscal consolidation structural reforms
Last Updated : GMT 09:15:11
Arab Today, arab today
Arab Today, arab today

Merkel, economic leaders call for fiscal consolidation, structural reforms

Arab Today, arab today

Arab Today, arab today Merkel, economic leaders call for fiscal consolidation, structural reforms

Berlin - XINHUA

German Chancellor Angela Merkel and leaders of five global financial organizations on Tuesday called for fiscal consolidation and structural reforms to restore global economic growth. \"The recovery of the global economy is on a fragile track and prospects still remain uncertain,\" Merkel said along with heads of the OCED, WTO, ILO, IMF and World Bank in a joint statement after their meeting in Berlin. According to IMF forecasts, world economy is now facing \"considerable downside risks,\" with a growth rate of 3.3 percent in 2012 and 3.6 percent in 2013. \"Because of modest growth prospects and considerable uncertainty, financial markets, investor and household confidence has not yet returned to pre-crisis levels,\" the leaders said. They expressed their concerns that \"debt levels in most industrialized countries are still unsustainably high,\" while \"unemployment has reached a new record high in many countries.\" To restore confidence and to improve growth and employment prospects, decisive action has to be taken to ensure fiscal consolidation at an appropriate pace coupled with structural reforms, the statement said. The leaders welcomed \"the efforts several eurozone countries are undertaking to enhance their external competitiveness and to consolidate their budgets,\" but also called for \"further efforts, especially with respect to youth employment generation, structural reform and effective social protection systems\" in the region. They urged the eurozone to work on the future of the European monetary union \"by implementing comprehensive reforms designed to enhance growth and competitiveness,\" and called on the United States to embark on a credible fiscal consolidation path. They also urged emerging economies to adjust their economic policies to \"meet the challenges of pursuing a growth path that is both inclusive and sustainable.\" Merkel and the visiting five leaders, including International Monetary Fund Managing Director Christine Lagarde, OECD Secretary General Angel Gurria, World Trade Organization Director General Pascal Lamy, International Labor Organization Director General Guy Ryder, and World Bank Group President Jim Yong Kim, also pledged to future cooperate in areas of innovation, education, labor market reforms, climate change, food security, as well as international trade. \"We are convinced that international trade has a major role in fostering global growth and employment,\" said the statement, stressing the importance \"to resist adopting protectionist measures\".

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today merkel economic leaders call for fiscal consolidation structural reforms Arab Today, arab today merkel economic leaders call for fiscal consolidation structural reforms

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today merkel economic leaders call for fiscal consolidation structural reforms Arab Today, arab today merkel economic leaders call for fiscal consolidation structural reforms

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday