Summary comments from the G20 Finance Track:
- The global economy continues to face multiple challenges, including conflicts in many regions of the world.
- Among the downside risks to global activity are wars and escalating conflicts; geoeconomic fragmentation; rising protectionism; trade routes disruptions.
- We note that the likelihood of a soft landing in the global economy has increased.
- Global growth is projected to stabilize in 2024 and the coming years at a subdued level; inflation has receded in most economies.
- Labor market dynamics have been uneven across economies.
- Ministers exchanged views on ongoing wars, conflicts, and humanitarian crises, highlighting Ukraine and Gaza.
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We had earlier comments from Japanese officials at the G20:
