G20 Agrees to Reduce Halve of the Government Deficit in 2013

June 29th, 2010

As pointed the experts, most of the most developed countries of the group had already been imposed this goal before the conclusion of this meeting. The final document also points to the leaders of the rich countries agreed to take the necessary measures to “stabilize or reduce” public debt in 2016.

The leaders of the most developed countries of the G-20, gathered in Toronto, Canada; pledged to halve its deficit in the next three years, without involving an impediment to the global economic recovery. So announced the Prime Minister of the host country of the summit, the Canadian Stephen Harper.

The emerging countries of the group be exempt from the obligation to fulfill that commitment.
As pointed the experts, most of the most developed countries of the group had already been imposed this goal before the conclusion of this summit.

The final document also points to the leaders of the rich countries agreed to take the necessary measures a goal of cutting government deficits in halve by 2013 and to “stabilize or reduce” public debt in 2016.

However, indicates that the public spending cuts “should be to the extent of the national circumstances”, “compatible” with the growth and the stimulus measures, and the pace that each deems appropriate.