G8 MEETING Ministers Say Oil Prices Hampering Global Growth

G8 finance ministers said high oil prices are hampering global economic growth, which is expected to moderate this year.

‘Sustained high energy prices are of significant concern since they hamper global economic growth,’ they said in the communique issued at the end of their meeting here.

They said growth was strong last year due to robust international trade and regional and global integration.

‘Growth is expected to remain robust, although at a more moderate pace, in 2005,’ they said.
Forbes