Russia to Promote Economic Stimulus at G20 Helm Says Putin

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Russia to Promote Economic Stimulus at G20 Helm Says Putin
Published 4-12-2012, 00:56
Russia's chairmanship of the G20 group of nations, which began today, will promote measures to stimulate the world economy and create jobs, President Vladimir Putin promised on Saturday.

"We see the main task of Russia's chairmanship of the G20 as concentrating the strength of the G20 on measures to stimulate economic growth, and creation of jobs," he said.

In order to do so, Putin added, it was essential to stimulate investment, confidence and transparency in markets and provide effective regulation.

"With these priorities in mind, we will discuss all the traditional G20 themes. Among them, the state of the world economy, and creation of an effective framework agreement to guarantee creditable and balanced growth, reform of the currency sytem and financial regulation and oversight, stability in global energy markets, strengthening of multilateral trade, and the fight against corruption," he said.

Russia will also propose discussion of two new themes, financial investment as a basis for economic growth and job-creation, and modernization of the national systems of state borrowing and management of sovereign debts, he said.

Solutions to the world's problems can only be found by taking into consideration the opinion of various groups, Putin said, adding Russia would consult the opinions of business, trade unions, youth, civil society and experts.

Russia's G20 chairmanship will guarantee continuity of policy along the lines of existing priorities, he said.

"For us, it is, foremost, an opportunity to offer our partners a positive agenda, aimed at the solution of general problems which concern all nations of the world," he said. "And of course, we intend to effectively use our chairmanship to resolve longstanding national issues, in order to strengthen Russia's place in management of the world economy," he added.

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