The developed economies will continue to be confronted with huge national budget deficits, despite the fact that stimulus spending is likely to taper off, the International Monetary Fund says. The overall budget deficit of the Group of 20 nations next year will be 6.5% of GDP, only slightly below this year's 6.6%. Next year the budget deficit will be 8.8% in the U.S. and 9.8% in the U.K., the agency said.

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