Minister of Economy participates in the Meeting of Development Ministers of the G 20 in Brazil
The Minister of Economy and Sustainable Development, Mr. Abdesselam Ould Mohamed Saleh, participated, on Tuesday in Rio de Janeiro, Brazil, in the meeting of development ministers of the Group of Twenty, which was chaired by the Brazilian Minister of Development and devoted to the topic of inequality.
Speaking during the meeting, the Minister of Economy and Sustainable Development highlighted the risks associated with growing inequality and inequality within people and nations.
He stressed that combating inequality required a comprehensive understanding that touched on economic, social, environmental and political dimensions.
In the context of diagnosing the situation of inequality and inequality, the Minister explained that globalization has resulted in wide disparities between and within countries, and this disparity is exacerbated by ongoing challenges such as climate change, geopolitical tensions, and migration crises, which particularly affect developing countries, especially low- and middle-income countries, and therefore this inequality can no longer be dealt with as a purely social issue, but rather as an issue that threatens global economic growth and prosperity.
The Minister expressed the African Union’s welcome to all that would strengthen the collective fight against inequality and its ambition to achieve the Sustainable Development Goals (SDGs), which are in line with the aspirations and objectives of Agenda 2063: The Africa We Want, which prioritizes the long-term well-being and quality of life for all by addressing the issues of poverty, gender inequality and lack of access to basic services, which are still prevalent in many African countries.
To enhance this trend, the African Union Commission is working with the African Development Bank and the African Union Development Agency to develop a strategic framework to achieve inclusive growth and sustainable development in Africa.
The framework aims, among other things, to promote human capital development, address the causes of inequality and poverty, facilitate the structural transformation of African economies, diversify sources of growth with a view to improving competitiveness and productivity, enhance food and energy security, as well as enable African economies to embark on a green transition at this stage.
At the end of the meeting, the G20 development ministers adopted a declaration to reduce inequality.
During his participation in the summit, the Minister of Economy and Sustainable Development was accompanied by a delegation from the African Union Commission and the Development Agency “NEPAD”.