Federal Budget (U.S.) Deficits

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  • Spain is readjusting its estimates after registering a deficit of 5 percent last year, instead of an agreed 4.2 percent. The government blames the overspending on Spain's autonomous regions and plans to trim 2 billion euros from this year's budget. Spain had been battling to slash its deficit from an 11.2 percent high it reached in 2009 during its economic...

  • CALGARY, Alberta, April 15- Ratings agency DBRS downgraded the Canadian oil-producing province of Alberta one notch to' AA' on Friday, a day after the provincial government forecast a budget deficit of C $10.4 billion this fiscal year. Alberta's left-leaning NDP government expects the once-booming province to be C $57.6 billion in debt by 2019, while finance...

  • CALGARY, Alberta, April 14- The Canadian crude-producing province of Alberta said on Thursday it will post a C $10.4 billion budget deficit this fiscal year and warned that a surplus might not return until 2024 as the oil price slump batters its economy. Alberta, home to Canada's oil sands and the No. 1 exporter of crude to the United States, has been hammered by a...

  • CALGARY, Alberta, April 14- The Canadian crude-producing province of Alberta said on Thursday it would post a C $10.4 billion budget deficit in the 2016-17 fiscal year as low oil prices hammered its once-booming economy. Alberta is forecasting a deficit of C $10.4 billion in 2016-17, a deficit of C $10.1 billion in 2017-18 and a deficit of C $8.4 billion in...

  • CALGARY, Alberta, April 14- The Canadian crude-producing province of Alberta said on Thursday it will post a C $10.4 billion budget deficit this fiscal year and warned that a surplus might not return until 2024 as the oil price slump batters its economy. Alberta, home to Canada's oil sands and the No. 1 exporter of crude to the United States, has been hammered by a...

  • *Kenya aims to cut budget deficit in 2016/ 17. NAIROBI, April 14- Kenya is seeking more private investment in state infrastructure to maintain the pace of spending on new railways and other vital assets while reducing the budget deficit, senior government officials said. Finance Minister Henry Rotich said the government had initiated several Public Private...

  • PARIS, April 13- France on Wednesday said it would reduce public spending further to offset lower-than-expected tax revenues but stuck to forecasts for growth of 1.5 percent this year and next despite more pessimistic estimates by international organizations. To meet its deficit reduction targets, Paris will seek 3.8 billion euros of extra spending cuts...

  • PARIS, April 13- France on Wednesday said it would curb public spending more to offset lower-than-expected inflation but stuck to growth forecasts of 1.5 percent for this year and next despite more pessimistic forecasts by international organizations. To meet its deficit reduction targets, Paris will seek extra spending cuts of 3.8 billion euros this year...

  • LIMA, April 12- Peru's next president must be "very careful" not to jeopardize the country's long-term economic stability and credit ratings with new stimulus spending aimed at boosting growth, Finance Minister Alonso Segura said on Tuesday. Keiko Fujimori and Pedro Pablo Kuczynski, Peru's presidential candidates, have proposed widening the fiscal deficit...

  • WASHINGTON, April 12- The U.S. government posted a $108 billion budget deficit in March, more than double the amount from the same period last year, the Treasury Department said on Tuesday. Accounting for calendar adjustments, March would have shown a $102 billion deficit compared with an adjusted $89 billion deficit in March 2015. The current fiscal...

  • MOSCOW, April 12- Russian Finance Minister Anton Siluanov said on Tuesday that the country's budget deficit could reach up to 4 percent of gross domestic product this year if oil prices stay at current levels. Hit by falling prices for crude oil, the country's main export, which together with a small basket of other commodities make up half of government revenues,...

  • *Russia faces 2nd year of recession in 2016. MOSCOW, April 12- Russian Finance Minister Anton Siluanov said on Tuesday that the budget deficit could reach up to 4 percent of gross domestic product this year if oil prices stay at current levels. Hit by falling crude prices- the country's main exports, which together with a small basket of other commodities make up...

  • *Nigeria faces budget deficit of $11.6 bln this year. LAGOS, April 9- Nigeria is considering a sale of Chinese Panda bonds to help fund a record budget aimed at reviving Africa's biggest economy as it suffers a slump in global oil prices, the finance minister said on Saturday. The OPEC member, which is Africa's No. 1 crude producer, could also dip into cash set aside for...

  • LAGOS, April 9- Nigeria might use money set aside for funding joint venture projects with foreign and local oil firms to make up any shortfall in the 2016 budget if government revenue projections are not met, Finance Minister Kemi Adeosun said on Saturday. The West African nation has been trying to boost tax revenues and the non-oil income to fund a record $30...

  • Facing US exploding debt dilemma

    Mitch Daniels, Purdue University president discusses the importance for both sides of the political aisles to stop strangling growth in the American economy.

  • CAIRO, March 31- Egypt's President Abdel Fattah al-Sisi approved the 2016-2017 draft budget on Thursday, as well as an economic development plan, and sent both to parliament for passage, state news agency MENA said. Egypt's government had on Wednesday approved a draft with a deficit of 9.9 percent and economic growth of 5-6 percent and passed it to the president...

  • President Barack Obama' s fiscal 2017 budget would produce $6.9 trillion in deficits over the next decade if enacted, about $2.4 trillion less than under current tax and spending laws, congressional forecasters said on Tuesday. The Congressional Budget Office said in a new analysis, however, that its 10- year deficit estimate is $776 billion higher than the...

  • TORONTO, March 27- Canada's Liberal government believes the federal budget will be balanced in "about" five years due to higher growth spurred by deficit spending, Finance Minister Bill Morneau said on Sunday. In the election last year, the Liberals campaigned on running three years of deficits of up to C $10 billion before balancing the books by fiscal 2019-20....

  • CAIRO, March 27- Egypt promised tough action to restore growth on Sunday with a government programme that aimed to reduce the budget deficit while protecting the poor as public anger mounts over a deteriorating economy. Egypt's economy is currently growing at around 4.2 percent with a budget deficit of about 11.5 percent, Ismail said. President Abdel Fattah...

  • In its most comprehensive report on the cost of subsidized health coverage, a potential target for deficit reduction, CBO said the 2016 tax bill equals 3.6 percent of gross domestic product and includes the federal tax exclusion for employer-sponsored insurance, Medicaid programs for the poor and tax credits available to lower-income Americans through...