Plans to meet a global growth target over the next five years are ambitious but achievable, France's Finance Minister Pierre Moscovici told CNBC on the sidelines of a gathering of world finance ministers and central bankers in Sydney.
The G-20 said in a communiqué on Sunday that they would develop policies to lift their collective gross domestic product by more than 2 percent above the trajectory implied by current policies over the coming five years.
According to the communiqué, the G-20 has embraced a goal to generate over $2 trillion in additional output over five years, while creating tens of millions of new jobs.
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"I would say that is reasonable and ambitious. Yes it is perfectively achievable, and as I said…ambitious because today the world needs growth and [it's] also realistic, because it is not a huge figure," Moscovici told CNBC on the sidelines of the G-20 on Sunday.
"This figure doesn't come from nowhere, it is what the international organizations – such as the Organization for Economic Co-operation and Development (OECD) and others – tend to say. It's reasonable that if we all cooperate and look towards growth we can produce that figure," he added.
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