Federal Budget (U.S.) Austerity

  • *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.

  • *Germany is only big state not hitting EU fiscal limits. BRUSSELS, Nov 16- The European Union effectively urged the German government to spend more in an election year as Brussels moved further away on Wednesday from its mantra of austerity, pushing for euro zone countries to loosen their budgets for 2017.. But since France, Italy and Spain are among those butting...

  • BRUSSELS, Nov 16- The European Commission said on Wednesday it will not suspend EU funds for Spain and Portugal next year following their breach of EU budget rules, as it also called for looser fiscal policy across the euro zone. Spain and Portugal were found in breach of EU fiscal rules last year, but the Commission has concluded there is no need to sanction them as...

  • *Budget deficit reduction set to exceed original plan. *Foreign borrowing channel eases pressure on currency. RIYADH, Nov 3- Saudi Arabia has avoided an economic crisis due to low oil prices this year but the outlook for state finances and growth will remain murky for many months to come, businessmen and analysts in the kingdom say.

  • The flagship measure in President Michel Temer's effort to restore Brazil's fiscal discipline cleared the lower house of Congress last week and the government is confident it can win Senate approval by mid-December. Senator Eunicio Oliveira, Senate leader for Temer's Brazilian Democratic Movement Party, said Brazil was running out of time to put its books...

  • CAIRO, Oct 23- A cartoon which appeared on social media shows a drowning Egyptian, only his hand protruding from the depths, waving for help. The next strips show President Abdel Fattah al-Sisi diving in, taking the drowning man's watch and turning away. As part of reforms aimed at clinching a $12 billion IMF loan needed to plug its gaping budget deficit, the...

  • CAIRO, Oct 23- A cartoon which appeared on social media shows a drowning Egyptian, only his hand protruding from the depths, waving for help. The next strips show President Abdel Fattah al-Sisi diving in, taking the drowning man's watch and turning away. As part of reforms aimed at clinching a $12 billion IMF loan needed to plug its gaping budget deficit, the...

  • BRASILIA, Oct 6- A congressional committee in Brazil approved a constitutional amendment on Thursday that would limit public spending increases for 20 years, handing President Michel Temer an initial victory in his plan to plug a widening deficit. Its approval requires two votes in the plenary of the lower house and two more in the Senate, needing a...