TEXT-Closing communique from G20 finance ministers meeting
MOSCOW, July 20 (Reuters) - The Group of 20 nations put growth ahead of austerity in a joint communique on Saturday, seeking to nurture a global economic recovery in the face of volatile financial markets.
Following are key extracts on the economy from a joint G20 communique published on Saturday at the end of a two-day meeting of finance ministers and central bank governors in Moscow:
1. We, the G20 Finance Ministers and Central Bank Governors, met to review the current global economic conjuncture and discuss the required policies in preparation for our Leaders' summit in September.
2. Strengthening growth and creating jobs remain our priority and we are fully committed to taking decisive actions to return to a robust, job rich growth path.
3. The global economy remains too weak and its recovery is still fragile and uneven. Unemployment remains excessively high in many countries. There are signs of strengthening activity in the U.S. and Japan, the recession in the euro area continues even though there are signs of stabilization and growth in many emerging market economies continuing but at a slower pace. While our policy actions have contributed to contain downside risks, those still remain elevated with rising disparity in regional growth prospects. There has been an increase in financial market volatility and tightening of financial conditions.