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G20 leaders promise to foster global growth

world Updated: Nov 04, 2011 22:18 IST

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Leaders of the world's major developed and emerging economies have agreed to foster global growth in coordinated but different efforts, French President Nicolas Sarkozy said in Cannes on Friday.

"We have decided to mobilize all efforts to support growth. We have decided to take into account of each country's respective situation," Sarkozy said at a closing press conference of the G20 summit, reported Xinhua.

G20 countries have chosen different measures to tackle respective priorities under the common goal of boosting growth, according to the host.

Advanced countries with tight budget "commit to adopt policies to build confidence and support growth" and "to achieve fiscal consolidation," while countries with surplus will "commit to let automatic stabilizers work" and "to boost domestic demand", said a final communique released after the G20 Summit.

However, they all agreed to take further structural reforms to boost jobs and pay more attention to vulnerable groups, especially the youth.

"We firmly believe that employment and social inclusion must be at the heart of our actions and policies to restore growth and confidence," the communique added.