Federal Budget (U.S.) Austerity

More

  • *Irish economy outperforms euro zone peers, France lags. LONDON, Jan 13- Ireland's remarkable economic recovery following a 2010 bailout may soon push its borrowing costs below those of France but its less liquid debt means it is unlikely ever to become a "core" euro zone credit. Irish growth, budget deficit and borrowing figures all look better than those of France,...

  • *Bahrain, Kuwait, Qatar and Oman all reviewing subsidies. DUBAI, Dec 30- An austere state budget released by Saudi Arabia this week is likely to mark the end of an era for the Gulf's lavish cradle-to-grave welfare systems, encouraging governments around the region to roll back costly handouts to their populations. Struggling to narrow a huge budget deficit...

  • SAO PAULO, Dec 9- Moody's Investors Service is studying Brazil's credit rating for a possible downgrade to junk status due to a deteriorating economy, widening fiscal deficit and increasing risks of political paralysis, the ratings agency said on Wednesday. Economic data last week showed Brazil's economy contracted 4.5 percent in the third quarter from a...

  • BRASILIA/ SAO PAULO, Dec 1- Brazil's economy shrank 1.7 percent in the third quarter, deepening its worst recession in 25 years and starving President Dilma Rousseff's government of taxes as she struggles with a growing fiscal deficit and a vast corruption scandal. On an annual basis, Brazil's gross domestic product dropped 4.5 percent in the third quarter, the...

  • BRASILIA, Nov 26- Brazil's central government recorded its biggest primary budget deficit recorded for the month of October as a deepening recession drags down federal revenues, Treasury data showed on Thursday. President Dilma Rousseff is struggling to shore up the government accounts as a rebellious Congress drags its feet to approve unpopular...

  • It's a very hard time to be the 'queen of Europe' Monday, 23 Nov 2015 | 12:57 PM ET
    German Chancellor Angela Merkel.

    German Chancellor Angela Merkel, who's usually seen as Europe's indispensable leader, is in danger of losing that role.

  • Why Europe may not put money where its mouth is Friday, 20 Nov 2015 | 2:38 PM ET
    French army soldiers secure the area around the nuclear-powered aircraft carrier Charles de Gaulle as it leaves the naval base of Toulon, France, November 18, 2015.

    After years of working to tighten budgets, European nations are now grappling with whether to boost defense expenditures.

  • Greece police try to maintain anti-austerity protest Thursday, 12 Nov 2015 | 11:00 AM ET
    Greece police try to maintain anti-austerity protest

    Thousands of protesters in Athens were witnessed throwing petrol bombs and stones during rally.

  • TOKYO, Oct 27- Japan should stick to its plan to raise the sales tax from 8 percent to 10 percent in April 2017 in order to deliver fiscal sustainability, a senior official at the International Monetary Fund said on Tuesday. Vitor Gaspar, the head of the IMF's fiscal department, said policymakers in Japan and other major economies need to stand ready to follow a "...

  • BRASILIA, Oct 22- Brazil has given up on its goal of seeking a primary budget surplus this year and instead will record a massive shortfall as a deepening economic and political crisis drags on revenues, presidential chief of staff Jaques Wagner said on Thursday. President Dilma Rousseff was forced to drop plans to reach a fiscal surplus and instead is...

  • BRASILIA, Oct 22- Brazil has given up on its goal of seeking a primary budget surplus this year and instead will record a massive shortfall as a deepening economic and political crisis drags on revenues, presidential chief of staff Jaques Wagner said on Thursday. The new fiscal goal, outlined by Wagner to journalists at the presidential palace, has to be approved...

  • Brazil's Rousseff cuts 8 ministries to cut costs Friday, 2 Oct 2015 | 10:33 AM ET

    BRASILIA, Oct 2- Brazil's President Dilma Rousseff eliminated 8 ministries to reduce government spending on Friday and reshuffled her cabinet to bolster support from her coalition for fiscal austerity measures in Congress and avert a threat of impeachment.

  • *Paris sees public spending down to 55.1 pct/ GDP in 2016. *Growth seen accelerating despite China slowdown. PARIS, Sept 30- France unveiled a budget for next year on Wednesday that promised a modest improvement in its finances and offered households tax cuts, setting the stage for 2017' s presidential election.

  • TOKYO, Sept 30- Japan's finance ministry on Wednesday called for policymakers to avoid repeating the mistake made during the 1980 s "bubble" era, when expansionary fiscal policy led to a snowballing of public debt in the following two so-called lost decades. Government offices have requested a record 102.4 trillion yen budget, with big increases in social...

  • PARIS, Sept 30- France unveiled a budget for next year on Wednesday that promised a modest improvement in its finances and offered households tax cuts that set the stage for presidential elections in 2017.. Finance Minister Michel Sapin said that total spending would fall next year to 55.1 percent of economic output from an estimated 55.8 percent this year.

  • Why Brazil's austerity measures are not working Monday, 21 Sep 2015 | 6:50 PM ET
    Why Brazil's austerity measures are not working

    Neil Shearing, chief emerging markets economist at Capital Economics, explains why the package of spending cuts and tax increases unveiled by Brazil's government isn't helping the economy.

  • Why Syriza's election victory is good news Sunday, 20 Sep 2015 | 6:20 PM ET
    Why Syriza's election victory is good news

    Fariborz Moshirian, director of Institute for Global Finance, UNSW Business School, says the national elections on Sunday will likely lead to "political and finance stability" in Greece.

  • SAN JUAN/ NEW YORK, Sept 18- Business is tough enough already for Carlos Jimenez without having to face higher taxes. Fast Lane, his three-location car-wash chain in Puerto Rico, has laid off about half the 106 employees it had in 2007.. The new levies come as the Puerto Rican government pursues a plan to jumpstart its foundering economy and claw its way out of a $72...

  • BRASILIA, Sept 14- Brazil's government announced spending cuts and tax increases totaling 65 billion reais on Monday as it scrambles to close a budget deficit that led to a downgrade of the country's credit rating last week. The biggest item was the revival of the unpopular CPMF tax on financial transactions that will raise 32 billion reais next year if it...

  • BRASILIA, Sept 14- Brazil's government announced spending cuts and tax increases totaling 65 billion reais on Monday as it races to close a budget deficit that led to a downgrade of the country's credit rating last week. The biggest item was the revival of the unpopular CPMF tax on financial transactions that will raise 32 billion reais next year if it passes a...