The finance ministers of 20 nations promised to take more measures in order to boost global GDP by 1.8% during the G20 finance meeting in Cairns, Australia.

In a communique, they said that “In the lead up to the Brisbane Summit, we will continue to identify a series of additional measures to meet our collective growth ambition. We will hold each other to account in implementing these policy commitments,”.

They also stated that 1,000 measures agreed so far, including measures to accelerate infrastructure investment, financial reform and encourage free trade, could add 1.8% to GDP and create millions of new jobs.

However, more reforms were needed in order to meet the 2% goal.

“Preliminary analysis by IMF-OECD indicates these measures will lift our collective GDP by an additional 1.8 percent through to 2018,” they said.