By Vestnik Kavkaza
The Syrian conflict was not included into the agenda of the G20 summit in St. Petersburg, however, reports on discussions of this topic casted into the shade all core information on G20. Several important decisions were made at the summit, which would encourage the growth of the world economy.
“The main decisions which were made within chairmanship of Russia refereed to “investments for the growth”,” the head of the expert council on G20, Sergey Drobyshevsky, says. “Russia initiated discussion of how and what investments should be provided in the world for the growth would start again. As the situation in the world has changed, distribution of capitals in the world economy has changed as well. Developing countries, energy exporting countries possess the biggest capital resource in the current world; while developed countries, centers of economic power – the U.S., Europe, Japan – suffer from lack of money for investment and investment ideas. In this situation the G20’s goal is to define new game rules for renewal of capital movement, for the movement to be free enough and directed at financing of tasks which should lead to renewal of the economic growth.”
Speaking about certain decisions of the G20, Drobyshevsky noted that this is “relying on private capital, while states are only supporters. States are not a leading force for providing investments, some state investment policy. They create conditions for long-term investments, even though it doesn’t require certain investment into business or establishing industrial facilities.”
According to the deputy head of the Center of Studies of Global Management under the Institute of International Organizations and International Cooperation, Mark Rakhmangulov, “the G20 admitted that policy toward the labour market is not a state expenditure, but an investment which will lead to the economic growth. Not the economic growth creates job, but new jobs are a guarantee of the further economic growth. ”
The second principle of the Russian chairmanship, According to Rakhmangulov, is that “the macroeconomic policy which is provided by states in the sphere of employment, budget stability, education should be connected with the policy of creating jobs.
And the second principle – exclusive labour markets should be established, where equal conditions for different groups of population, different workers are provided.”
The St. Petersburg Strategic Framework Program against corruption was adopted at the summit. So, it will be a basis for further anticorruption plans which will be adopted every year or two.
“First of all the G20’s efforts are directed at the support of a growth in developing countries, i.e. elimination of obstacles on the path to the growth,” the director of the Institute of international Organizations and International Cooperation, Marina Larionova, stresses. “It concerns low-income countries. The development strategy includes five directions: food safety, access to financial services and reduction of transfer payments to 5%, infrastructure, improvement of the net of regional funds on preparation for financing infrastructural projects, human resources and mobilization of internal resources.”
