Brussels, 14/04/2003 (Agence Europe) - The Economy and Finance Ministers of the seven richest countries in the world, which appeared particularly concerned at their earlier meeting end February, seemed more reassuring this weekend with regards growth, now that the war in Iraq appears to be drawing to a close. Growth in most of our economies remains moderate, although there is less uncertainty, they admitted in their declaration, before adding that, in an environment characterised by low inflation and low interest rates, there is a potential for higher growth.
On the fringe of the G7 meeting, the president of the European Central Bank (ECB), Wim Duisenberg, reaffirmed that his institution's monetary policy was appropriate with regards price stability. Bundesbank President Ernst Welteke, for his part, affirmed that the rate of inflation of the euro zone, if it continues at the current annual rate, would probably fall below 2%. US Secretary for the Treasury, John Snow, reassured his counterparts regarding the volume of US deficits. He said the deficit was not of a kind to upset financial markets, and considered that the US budgetary deficit was "modest" compared to the Gross Domestic Product, that it is manageable and that the United States could allow itself such a deficit.