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[ Evaluation of the G20 Leaders Summit in St Petersburg on September 5-6 ]
II.
Analysis of selected topics Global Growth and Public Debt
The Strengthening of Growth and the Creation of Jobs have been a top priority of the Russian Presidency and therefore been very present in media in the forefront of the G20 summit, at least until Syria dominated media coverage on G20.
In the Leaders’ declaration, mainly two important growth-related aspects were discussed: The G20 framework for strong, sustainable and balanced growth and growth through quality jobs.
The G20 Framework for strong, sustainable and balanced growth was initiated by the St Petersburg Action Plan for structural reforms and focused on core topics like monetary and financial stability, effective investment and labor force participation. Important outcomes were a general agreement on strengthening the foundations for economic and monetary union, enforcing domestic price stability, more market determined exchange rates, boosting investment, addressing fundamental weaknesses, enhancing productivity and competitiveness, increasing labor force participation, improving financial stability and credit access, and addressing internal and external imbalances. Further growth strategies shall be developed for Brisbane Summit 2014 2.
Growth through quality jobs 3 as second key topic focused on more productive and higher quality jobs as key driver for balanced growth, e. g. by improving the business environment, education and job quality.
In our opinion, these outputs were especially influenced by the C20, L20 and T20 outreach groups. Important parts of their recommendations were taken into account in the final declaration, like # 20, that was inspired by Civil20 recommendations or the focus on better job creation by improving education that was influenced by Labour20 recommendations.
2
See # 13, 14, 17, 20 and 22 of the Leaders Declaration
3
See # 23-35 of the Leaders Declaration