Group of 20 finance leaders meeting in Brazil this week are expected to make only a passing reference in their closing statement to regional conflicts, according to a draft version, due to deep divisions over wars in Gaza and Ukraine.

The draft communique, far shorter than previous years as host nation Brazil works to sidestep geopolitical controversies, also said the likelihood of a soft landing in the global economy has increased but that uncertainty remains high.

"Risks to the global economic outlook are more balanced," with faster-than-expected disinflation and more growth-friendly fiscal consolidation underpinning growth, the draft said.