"Global growth appears to be stabilizing and is generally projected to pick up moderately later this year and into 2020. However, growth remains low and risks remain tilted to the downside," the statement said, reported Xinhua news agency.
"Most importantly, trade and geopolitical tensions have intensified. We will continue to address these risks, and stand ready to take further action," the statement said.
They agreed to reform global corporate tax rules on internet giants. "We welcome the recent progress on addressing the tax challenges arising from digitalization and endorse the ambitious work program," the statement said.
"We will redouble our efforts for a consensus-based solution with a final report by 2020," it added.
Meanwhile, the Ministers reconfirmed their commitment to refraining from competitive currency devaluations in order to gain an unfair trade advantage.
They also pledged to increase their efforts to combat money laundering and funding of terrorist groups through the use of virtual assets and enhance regulations on cryptocurrency trading.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)