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Federal Budget (U.S.) Austerity

  • A senior state prosecutor filed the charges Tuesday against Artemis Sorras, head of the Convention of Greeks, which urges taxpayers not to settle debts with the government. "I of course will never turn myself in, because I am a true native Greek, and not part of some company that calls itself the Republic of Greece, or Germany or Washington D.C.," he said in the 21- minute...

  • LISBON, Portugal— Portugal's statistics agency says that the country's budget deficit fell to 2.1 percent last year, with the government saying the drop proved critics of its anti-austerity measures wrong. The National Statistics Institute said Friday the deficit dropped from 4.4 percent in 2015 due to spending cuts and higher tax revenue.

  • LISBON, March 24- Portugal slashed its budget deficit last year by more than half to 2.1 percent of gross domestic product, the lowest level since its return to democracy in 1974 and beating the 2.5 percent target agreed with Brussels. Official data showed on Friday the budget gap ended for the first time below the European Union's 3 percent threshold,...

  • LISBON, March 24- Portugal slashed its budget deficit last year by more than half to 2.1 percent of gross domestic product, the lowest level since its return to democracy in 1974 and beating the 2.5 percent target agreed with Brussels. Official data showed on Friday the budget gap ended for the first time below the European Union's 3 percent threshold,...

  • *Prince Mohammed: austerity needed to pay state employees. RIYADH, March 7- Saudi Arabia has promised to launch major development projects towards the end of 2017 to re-energise an economy which has been hit by austerity measures, industry sources told Reuters. While Prince Mohammed has cut a $98 billion state budget deficit and put the kingdom on track towards...

  • In its annual review of Greece's economic policies, the IMF said most of its board directors favor a Greek fiscal surplus target of 1.5 percent of gross domestic product by 2018, while some directors favor the higher 3.5 percent target sought by Greece's European lender group. The rare split among IMF's directors reveals some divisions in their views of...

  • In its annual review of Greece's economic policies, the IMF said most of its board directors favor a Greek fiscal surplus target of 1.5 percent of gross domestic product by 2018, while some directors favor the higher 3.5 percent target sought by Greece's European lender group. The rare split among IMF's directors reveals some divisions in their views of...

  • *Argentina economy in recession, fiscal deficit high. BUENOS AIRES, Dec 26- Argentine President Mauricio Macri has asked Finance Minister Alfonso Prat-Gay to step down, cabinet chief Marcos Pena said on Monday, citing disagreements over management style and the structure of the team charged with handling economic policy. Macri has sought to close Argentina's...

  • BUENOS AIRES, Dec 26- Argentine President Mauricio Macri has asked Finance Minister Alfonso Prat-Gay to step down, cabinet chief Marcos Pena said on Monday, citing disagreements over management style and the structure of the team charged with handling economic policy. Macri has sought to close Argentina's gaping fiscal deficit, but the government has...

  • *Riyadh acts to protect poorer citizens, petrochemical sector. RIYADH/ DUBAI, Dec 22- Saudi Arabia said on Thursday it had succeeded in cutting a huge state budget deficit caused by low oil prices and would increase government spending in 2017 to support flagging economic growth. "The public finances haven't improved on this scale since the early 1990 s, following...

  • RIYADH, Dec 22- Saudi Arabia said on Thursday it had successfully cut into its huge state budget deficit this year and will increase government spending in 2017 to boost flagging economic growth. The financial challenges for Saudi Arabia stem largely from the fall in the global price of oil over the past 2-1/ 2 years. Riyadh slashed spending on infrastructure and...

  • DUBAI, Dec 21- Saudi Arabia's state budget for 2017, which is expected to be released on Thursday, will boost spending to support economic growth while raising domestic energy prices to ease the government's subsidy burden, sources told Reuters. The deficit totalled a record 367 billion riyals in 2015, and the original budget for this year projected a 326...

  • BRASILIA, Dec 13- Brazilian senators on Tuesday passed a 20- year public spending ceiling proposed by President Michel Temer to control a ballooning budget deficit, a crucial step in an austerity drive to rescue Brazil's stalled economy. Temer said the move to limit spending by constitutional amendment was unprecedented and will be followed by an equally...

  • BRASILIA, Dec 13- Brazilian senators on Tuesday passed the main text of a 20- year public spending cap proposed by President Michel Temer to control a ballooning budget deficit, a crucial step in his plan to rescue Brazil's stalled economy. Authorities braced for protests outside Brazil's Congress organized by labor unions and left-wing groups opposed to...

  • RIYADH/ DUBAI, Dec 13- Saudi Arabia's 2017 state budget is likely to show Riyadh has shrunk a huge deficit caused by cheap oil faster than expected, which may let it spend more to bolster a shaky economy. Growth slowed sharply and speculators bet against the Saudi currency as the government fought to curb a deficit that totalled a record 367 billion riyals in 2015..

  • Greek Prime Minister Alexis Tsipras

    Greece's Parliament has passed a budget of continued austerity as mandated by the country's creditors, but which forecasts robust growth for 2017.

  • MADRID, Dec 2- Spain's minority government has agreed to raise the minimum wage and regional deficit targets, seeking to placate the Socialist opposition in a bid to win Parliamentary support for the first step of the 2017 budget. The long-delayed budget, which will aim to bring down one of Europe's largest public deficits, was put on hold after two inconclusive...

  • BUENOS AIRES, Nov 30- Argentina's Senate on Wednesday approved the 2017 budget proposed by the new center-right government, paving the way for a lower fiscal deficit once President Mauricio Macri signs the bill into law. The Senate passed the bill 59-8, a sign Macri still has support in Congress even though his party does not having a majority and the economy has...

  • KUWAIT, Nov 27- Opposition candidates are estimated to have won around 20 seats out of 50 in Kuwaiti elections that saw most parliament members replaced, in a vote analysts said reflects anger at austerity measures to curb a budget deficit. Analyst Ibrahim al-Hadban said the election campaign had shown that some of the decisions taken by the government were not...

  • UK FinMin should not be reckless: Economist

    British Finance Minister Phillip Hammond should "play it safe and wait for ... the fog to clear" post-Brexit, says Simon Wells, chief UK economist at HSBC.