MOSCOW (Sputnik) – G7 leaders noted signs of global economic recovery but also economic risks and weaker growth in developing countries, German Chancellor Angela Merkel said Thursday.
"On the one hand, the world economy has been growing steadily, but the growth in some countries, especially developing ones, has been weaker, and there are also many risks," Merkel told reporters.
Speaking on the oil price drop, Merkel said that low prices initially looked advantageous to consumers, "but now we notice increasing instability around the world, specifically in countries that produce oil and belong to developing nations."
Leaders of G7 club of industrialized countries – Britain, Italy, Germany, France, Canada, Japan and the United States – came together on Thursday for a two-day summit in Japan’s Ise Shima. The meeting traditionally deals with global economic issues.
