The largest global economies have pledged to install policies that will add $2 trillion to the world economy over the next five years.

The G20 — the world’s 19 richest nations and the European Union — said the reforms aim to lift collective GDP by more than 2%.

The group is placing a new emphasis on private-sector infrastructure spending — the latest sign that policymakers are moving way from austerity policies, and that major economies are now willing to to take on measures to support growth.  Read more