G8 express optimism on world economy

Finance ministers from the G8 nations predicted a year of strong economic growth on Saturday 10 June at a meeting in St. Petersburg.

The ministers issued a communique saying economic growth was healthy and becoming more broadly based despite a threat from oil prices of $ 70 per barrel and other imbalances such as the huge US trade deficit.

"As we look around the global economy today we see no major crises, no major economies in recession, we see strong growth, inflation well-contained, interest