At their meeting in Sydney in February, the G20 Finance Ministers and Central Bank Governors agreed to come to future meetings with proposed policies that would have the effect of lifting the level of the G20’s collective GDP by a little over 2 per cent by the end of five years. Let me be clear what this means.
The goal is that the level of real GDP in the G20 is 2 per cent (actually a little over 2 per cent) higher by the end of five years.