: He said members of the G20 all agreed to renew their vows to implement their structural reforms that would lift growth and create jobs across the globe, according to Nine News Australia. The meeting heard from the Organisation for Economic Cooperation that a third of more than 700 commitments made by the G20 under Australia 2014 presidency have been implemented and the other two thirds are under way. Completing a two-day G20 finance ministers meeting in Turkey, Mr Hockey says there great frustration the International Monetary Fund is downgrading world growth again." world growth would be lower if not for our leadership and determination last year to have a two per cent target and to roll out a global infrastructure initiative," Mr Hockey told AAP from Istanbul on Sunday. He said in the two years that the Abbott government has been in power, world growth expectations have been continually downgraded and commodity prices have fallen at an extraordinary rate."But our economy has proven to be both diverse and robust and Australia is preforming far better than any other comparable nations in the world that has gone through a significant fall in their terms of trade," he said. He said the G20 meeting was "extremely constructive and productive" and was grateful for a frank and open approach from Chinese officials at the meeting about the outlook for their economy and how there had been a huge amount of misinformation. Figures last week showed that the Australian economy grew at just 0.2 per cent in the June quarter, whereas Canada and Brazil are in recession.
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