Call for deficit reduction is likely to be agreed in the final declaration the G-20 summit in Toronto, Canada.

Leaders of industrialized and developing countries agreed to support the appeal to the most wealthy countries to reduce the budget deficit until half of each within three years, and simultaneously reduce the amount of debt to GDP ratio.

This was announced by Canadian Prime Minister Stephen Harper at the end of the G-20 summit on Sunday in Toronto. He said, there was a chance to continue providing economic stimulus and simultaneously reduce the amount owed.

U.S. President Barack Obama and several other leaders warned of the existence of serious challenges to restore the world economy. They said that world economic growth is positive, but uneven and still fragile, while the level of unemployment in many countries is still too high.

A number of countries members of the G-20 group have borrowed money to finance various programs to stimulate the economy each year after the global financial crisis in 2008.