* Spending cuts, tax hikes not needed in Canada

* Sees budget back in black as economy rebounds

* Says global economy showing greater stability

* Hopes recovery fully under way by next June's G8 summit

By Randall Palmer

L'AQUILA, Italy, July 10 (Reuters) - Canada said on Friday it would not have to cut spending or raise taxes to end its budget deficit, but said countries with structural deficits will need to begin thinking about exit strategies.

Speaking after a summit of the Group of Eight leading industrialized nations, Prime Minister Stephen Harper said it was too early to start cutting stimulus but this topic could figure prominently in next year's G8 summit in Canada.

"I am not suggesting that any country begin to unwind its economic stimulus measures now. That would clearly be way too premature," Harper told a news conference.

"I have suggested that those that are seeing the emergence of these structural deficits ... have to at least be thinking about how they are going to emerge out of a structural deficit position as the recovery begins to take hold."