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Strong, Sustainable, Balanced and Inclusive Growth

After the financial crisis, G20 Leaders pledged to work together to ensure a lasting recovery and strong and sustainable growth over the medium term by implementing the G20 Mutual Assessment Process (MAP). To meet this goal, they launched the Framework for achieving strong, sustainable, and balanced growth, which is being implemented in the G20 Framework Working Group (FWG). The OECD actively participates in the FWG.

As a part of its wider contribution to the Framework, the OECD launches its annual Going for Growth report at the margins of the G20 Finance Minister and Central Bank Governors meeting, which identifies and assesses G20 countries’ progress to advance structural reforms that could boost sustainable and inclusive growth.

OECD’s contribution to the Framework

The OECD contributed to the design of the G20 National Growth Strategies under the Australian Presidency, which aimed at lifting the global GDP by 2% above the baseline by 2018 (2-in-5 ambition). Since then, the OECD, together with IMF, has been monitoring, assessing and quantifying the implementation of the National Growth Strategies to reach the 2-in-5 ambition. 

Under the Chinese Presidency, G20 leaders agreed on an Enhanced Structural Reform Agenda, which identifies nine priority areas of structural reform and a set of guiding principles. The OECD supported this agenda by delivering to Ministers during the German Presidency, a report on the Enhanced Structural Reform Agenda which assesses progress in structural reforms under the nine priority areas.

Under the German Presidency, the G20 countries adopted G20 principles to enhance the resilience of the G20 economies. The OECD provided support for the Principles by producing a Policy Paper on Economic Resilience and Structural Policies.

To support the Argentine Presidency’s priority on the future of work in 2018, the OECD delivered an overview paper on the macroeconomic implications and policy needs of new breakthrough technological advances for the future of work. The OECD also prepared papers on tax policies and competitive conditions that informed the G20 Menu of Policy Options for the Future of Work.