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Focus: Framework for Strong, Sustainable and Balanced Growth Working Group (FWG)

The Framework Group, created at the Pittsburgh Summit in 2009, is in charge of promoting and coordinating economic policies (monetary, budgetary and structural) to achieve strong, sustainable and balanced growth (Pittsburgh process).

This group's work is organised around national growth strategies, which include a macroeconomic and a structural facet. At the Brisbane Summit, international organisations estimated that 2.1% additional growth could be generated between now and 2018 by full implementation of the structural (quantifiable) commitments made in the growth strategies.

During the Turkish presidency of the G20 in 2015, growth strategies, known as adjusted growth strategies, changed compared with those of Brisbane:

  • New macroeconomic commitments were made to address the worsening economic situation (QE in the eurozone, decreased benchmark rates in Canada and China, Korean stimulus plan, etc.).
  • New structural commitments, notably in the areas of competition (opening the energy and telecommunications sectors in Mexico), employment (“All in for employment” plan in France), investment (rollout of numerous infrastructure projects) and trade. Of the 334 new measures proposed by the countries, only 12% were quantifiable. Some measures were not truly new, but modify or further specify Brisbane measures. These new measures have an extremely weak impact: international organisations estimate it at between 0.1 and 0.2 points of GDP.
  • The countries introduced measures in the adjusted growth strategies for increasing the inclusiveness of growth and/or where applicable with an impact on reducing inequalities.

In 2016, growth strategies will continue to be modified based on the macroeconomic context and the issues highlighted by the Chinese presidency.

Updated on: 12/01/2016 11:37