Australian treasurer urges global leaders to maintain economic stimulus measures
- Source: Xinhua
- [12:28 September 22 2009]
- Comments
Global leaders must maintain support for economic stimulus measures in the challenging period ahead, Australian Treasurer Wayne Swan said on Tuesday.
Swan said the intervention of the G20 through its decisions in November last year and March this year had prevented a global economic catastrophe.
"It was the putting in place of economic stimulus in countries around the G20, the various financial interventions in other countries when it came to their financial system, that have averted a very substantial economic event in the world economy," Swan told reporters.
"Nevertheless, there are still very big challenges ahead."
The Organization for Economic Co-operation and Development (OECD) had indicated last week that there was still a very bleak outlook for employment and rising unemployment in OECD countries, Swan said.
"That's why it's important through this meeting in Pittsburgh that global leaders maintain their support for economic stimulus and also have a very important discussion about that nature of global growth as we move forward to recovery."
