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Deficits

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  • WASHINGTON, July 14- The White House on Tuesday slashed its fiscal 2015 deficit forecast to $455 billion, down $128 billion from its last estimate in February, due to new calculations of higher revenues and lower spending. The White House also reduced its fiscal 2016 deficit estimate by $45 billion to $429 billion, or 2.3 percent of gross domestic product.

  • WHITE HOUSE BUDGET OFFICE SAYS FY15 BUDGET DEFICIT NOW PROJECTED TO BE $455 BLN, $128 BLN LOWER THAN FEB ESTIMATE.

  • WASHINGTON, July 8- The U.S. budget deficit shrank by $52 billion during the first nine months of fiscal 2015 from a year ago as tax receipts grew faster than spending increases, the Congressional Budget Office said on Wednesday. The 14 percent reduction to a $314 billion gap for the October-June period comes as the Republican-controlled Congress and President...

  • LONDON, July 8- Britain will aim to wipe out its budget deficit and achieve a surplus in the 2019/ 20 financial year, one year later than previously planned, finance minister George Osborne said on Wednesday. Osborne, delivering a post-election budget statement, said the budget was projected to show a surplus equivalent to 0.4 percent of gross domestic product in...

  • SAO PAULO, July 7- Brazilian President Dilma Rousseff told newspaper Folha de S. Paulo in an interview published Tuesday that she plans to finish her term and continue with efforts to narrow the budget deficit in spite of growing calls among opponents for her resignation. When asked repeatedly by Folha reporters about heightening pressure for her to step down...

  • IMF HOLDS FORECAST FOR GHANA 2015 GDP GROWTH AT 3.5 PCT, SEES 2015 BUDGET DEFICIT AT 7.2 PCT VS PVS FORECAST OF 7.5 PCT.

  • BRASILIA, June 25- Brazil's central government recorded its widest monthly primary budget deficit in 8 months in May, nearly wiping out the surplus of the previous month as tax revenues plummet. Despite a flurry of tax hikes and spending cuts President Dilma Rousseff is struggling to save enough money to meet its 2015 fiscal goal, which is considered key to...

  • WASHINGTON, June 19- Repealing President Barack Obama's signature healthcare reform law would increase the U.S. budget deficit by $353 billion over 10 years, congressional forecasters said on Friday, more than triple the red ink compared to an estimate three years ago. But the Congressional Budget Office and the Joint Committee on Taxation said the deficit...

  • *UK budget deficit shows big year-on-year fall in May. LONDON, June 19- Strong income tax receipts pushed British government borrowing to its lowest May reading since 2007, adding to signs that revenue growth could play a major role in debt-reduction plans being drafted by finance minister George Osborne. Osborne says debt needs to fall substantially as a...

  • WASHINGTON, June 16- The U.S. budget deficit will more than double as a share of economic output by 2040 if current tax and spending laws remain unchanged, the Congressional Budget Office said on Tuesday. The CBO, releasing its annual long-term budget outlook, said however, that overall U.S. debt levels in 2040 will be slightly lower than estimates made a year ago for...

  • U.S. posts budget deficit of $82.4 billion in May Wednesday, 10 Jun 2015 | 2:00 PM ET

    WASHINGTON, June 10- The United States posted a budget deficit of $82.4 billion in May, a 37 percent drop from the same period last year, the U.S. Treasury Department said on Wednesday. Analysts polled by Reuters had expected a $98 billion deficit for last month. Receipts last month were $212 billion, up 6 percent from the same period last year, while outlays were $295...

  • DUBAI, June 4- The United Arab Emirates is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with UAE authorities. He estimated that at today's oil prices, the UAE could keep spending at current levels for at least 30-40...

  • LONDON, June 4- Britain will sell its 30 percent stake in postal operator Royal Mail, currently worth about 1.5 billion pounds, as it renews its drive to wipe out the budget deficit, finance minister George Osborne said on Thursday. The sale of the government's remaining stake in Royal Mail will mark the final stage in one of Britain's most high-profile...

  • UK finance minister eyes extra 5 pct spending cuts Friday, 29 May 2015 | 10:37 AM ET

    LONDON, May 29- British finance minister George Osborne has asked most government departments if they can cut spending by an extra 5 percent this year ahead of an upcoming budget, as he seeks to erase the deficit in public finances. Prime Minister David Cameron's Conservatives unexpectedly won a slim majority in this month's national election, freeing them...

  • BRASILIA, May 27- Brazil's Senate on Wednesday approved an austerity measure that cuts pension benefits as part of President Dilma Rousseff's drive to reduce a widening fiscal deficit and regain investors' confidence in the once-booming economy. On Tuesday, the Senate approved a similarly watered-down version of another measure curbing unemployment...

  • SANTIAGO, May 24- Maintaining healthy public finances is a "crucial commitment," said Chile's finance minister in an interview published in local media on Sunday, his first since taking over the role two weeks ago. Rodrigo Valdes did not say whether the left-wing coalition government would stick to its stated goal of wiping out the structural budget deficit by...

  • TOKYO, May 12- Members of Japan's top economic advisory panel will propose that the government focus on higher economic growth and spending cuts to meet fiscal targets, but some analysts worry the plan could actually crimp Tokyo's ability to maintain fiscal prudence. Japan's government will also set a new target of reducing its primary budget deficit to 1...

  • BRUSSELS, May 8- EU finance ministers will debate on Tuesday whether the European Commission softened the bloc's budget rules too far through the back door by giving governments leeway on deficit reduction in return for planned reforms before they are implemented. Under the European Union's Stability and Growth Pact, states have to cut the public deficit by...

  • UPDATE 2-Argentina raises more cash in local bond sale Thursday, 7 May 2015 | 6:30 PM ET

    BUENOS AIRES, May 7- Argentina raised 5.263 billion pesos from a sale of local debt on Thursday, the economy ministry said, continuing a drive to drum up cash at home, given its fiscal deficit, upcoming debt payments and difficulty accessing global credit markets. Argentina has been largely cut off from international capital markets since its 2002 debt default.

  • BRASILIA, May 7- Brazilian Finance Minister Joaquim Levy on Thursday defended unpopular austerity measures and floated the idea of setting a target to lower the country's ballooning overall budget deficit. In a narrow vote, Brazil's House of Deputies approved on Wednesday a watered-down version of a bill to cut unemployment benefits. Brazil's 12- month...