Deficit cuts to be 'tailored' by country: G20 draft

The leaders of the world's biggest economies endorsed deficit reduction today but on a case-by-case basis, with measures "tailored to national circumstances," a draft G20 statement said.

The leaders of the world's biggest economies endorsed deficit reduction on Sunday but on a case-by-case basis, with measures "tailored to national circumstances," a draft G20 statement said.

HT Image

"Recent events highlight the importance of sustainable public finances," said the draft summit statement, obtained by AFP as talks continued.

In the document, leaders promise "to put in place credible, properly phased and growth-friendly plans to deliver fiscal sustainability, differentiated for and tailored to national circumstances."

"We are committed to taking concerted actions to sustain the recovery, create jobs and to achieve stronger, more sustainable and more balanced growth," it added.