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Federal Budget (U.S.) Austerity

  • ATHENS, Greece— Greece is poised to tap international bond markets for the first time in three years in a move the government hopes will signal the country is ready to emerge from its bailout era. Greece lost market access in 2010 as the country descended into a financial crisis that saw it receive three international bailouts to keep it afloat in return for...

  • BRASILIA, July 20- Brazil's government on Thursday increased a spending freeze and raised taxes to cover a budget gap this year, reinforcing its commitment to fiscal discipline but dealing a potential blow to fragile economic growth. Brazil lost its investment-grade rating in 2015 after missing budget targets for years. Brazil targets a budget deficit of 139...

  • BRASILIA, July 20- Brazil's government will increase this year's spending freeze and raise taxes to cover a budget gap, two sources told Reuters on Thursday, reinforcing its commitment to fiscal discipline but dealing a potential blow to fragile economic growth. Brazil lost its investment-grade rating in 2015 after missing its budget targets for years.

  • CAIRO— The head of the International Monetary Fund has praised Egypt's reform measures, saying they will set the country on "a path of stability." Christine Lagarde said in a statement late Thursday that Egypt's government and central bank have "taken the right measures to rein in inflation, reduce the budget deficit, and set the Egyptian economy on a path to...

  • Mayor of Le Havre Edouard Philippe speaks as he presents the candidates for the 'La Republique en marche' party ahead of the June parliamentary elections

    Prime Minister Edouard Philippe told lawmakers on Tuesday that it was time to end France's addiction to public spending and rein in debts.

  • BRASILIA, June 29- Brazil's government is still on track to hit its annual budget target despite a sharp and unexpected widening of the deficit last month, the country's Treasury chief said on Thursday. The government, which is trying to push an unpopular austerity agenda through Congress, posted a primary budget deficit of 29.371 billion reais in May, compared...

  • LONDON, June 21- Britain's government said it would pay greater heed to public concerns about austerity but stuck with the broad outlines of its plans to reduce the budget deficit as it set out its legislative plans for the next two years on Wednesday. After Prime Minister Theresa May failed to win a majority in an early election on June 8, there had been...

  • LONDON, June 15- Sterling fell half a percent against a broadly stronger dollar in morning trade in London on Thursday, with weak retail sales numbers and concerns about efforts to form a new minority government driving it back below $1.27. "The overall trend is still not bad, the retail numbers are still holding up, but the likes of the CBI, the BRC are not optimistic,"...

  • *France unlikely to meet budget deficit ceiling. *Italy needs tax, judicial reforms. BRUSSELS, May 22- Euro zone countries improved their fiscal stance, a sign of growing financial stability, the EU Commission said on Monday, but it called on France to take new action to comply with EU deficit limits and warned Italy faced "urgent" challenges.

  • LISBON, April 13- The Portuguese government rolled out an ambitious plan on Thursday to eliminate its budget deficit by 2020 after slashing the gap to its lowest level in at. Portugal's total debt is the third highest in the euro zone after Greece and Italy. The minority Socialist government, which came to power in late 2015, has surprised analysts by slashing the...

  • *EU may end excessive deficit action against Lisbon. LISBON, March 31- While the European left is largely struggling where it holds power, Portugal's government alliance stands out as a remarkable exception; it is raising wages and gaining popularity and yet delivering the lowest budget deficit in living memory. The unlikely alliance of centre-left...

  • 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...

  • 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.

  • 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.

  • Room for a different type of fiscal police in Greece: Opposition

    Kyriakos Mitsotakis, president of the Greek New Democracy opposition party, says that the current government is "pretending to implement real reforms."

  • Paul Johnson, director of the Institute for Fiscal Studies, discusses the potential for more austerity driven fiscal policy in British politics.