G20 host Australia says global growth target on track

BRISBANE Australia (Reuters) - A target to increase global economic growth by an additional 2 percentage points over the next five years is on track, Joe Hockey, Treasurer of G20 host Australia, said on Saturday. "The growth target which we set for ourselves in Sydney of an additional 2 percent of GDP is on track and the IMF will report to the leaders over the next few hours about that, but everyone around this table has made a massive commitment through over 1,000 initiatives," Hockey said at the start of a meeting of G20 finance ministers at the summit in Brisbane. (Reporting by Lincoln Feast; Editing by John Mair)