Finance chiefs of leading economies promise steps to stimulate economy as growth outlook bleak

Economic Indicators Associated Press

Finance officials from the Group of 20 most powerful economies say the global economy faces an uncertain outlook, but have promised to take steps to stimulate growth.

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After a two-day summit in Istanbul, the finance ministers and central bankers noted that many countries face declining growth, a bleak outlook and rising income inequality. They promised to use monetary and fiscal policy levers to boost economic activity.

Their statement also welcomed recent steps by the European Central Bank that it said would support recovery in the eurozone.