Federal Budget (U.S.) Deficits

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  • DUBAI, May 25- Saudi Arabia may need to change its currency's peg to the U.S. dollar if economic conditions shift, researchers at the Saudi central bank suggested in a paper that could shape debate among policymakers as the kingdom grapples with low oil prices. But the collapse of oil prices since 2014, which created a $100 billion state budget deficit, has fueled...

  • BRASILIA, May 24- Brazil's interim President Michel Temer said on Tuesday he would seek a constitutional amendment to curb public spending as his government unveiled a raft of austerity measures to reduce a record fiscal deficit and regain investor confidence. Temer, who was vice president under Rousseff, said a vote in Congress on Tuesday on the 2016 fiscal...

  • BRASILIA, May 24- Brazil's interim President Michel Temer said on Tuesday he would seek a constitutional amendment to curb public spending as his government unveiled a raft of austerity measures to plug a record fiscal deficit and regain investors' confidence. Temer, the country's former vice president, said a vote in Congress on Tuesday on the 2016 fiscal...

  • SAO PAULO, May 23- Brazil's government on Tuesday will announce spending curbs and other measures to reduce its rising debt burden and plug a yawning fiscal deficit as it seeks to regain the confidence of investors, Finance Minister Henrique Meirelles said. Juca, an experienced senator and key Temer ally, has been negotiating with Congress for the approval of a...

  • BRASILIA, May 20- The Brazilian government expects a record budget shortfall this year as a two-year recession drags down revenues, but policymakers vowed new austerity measures to regain investors' confidence in the once-booming economy. Finance Minister Henrique Meirelles said the target could be reduced if Congress approves austerity measures to be...

  • OTTAWA, May 19- Canadian Prime Minister Justin Trudeau suggested on Thursday that a C $30 billion budget deficit was not a hard limit as the government's focus should be on spurring economic growth. Trudeau campaigned on a proposed C $10 billion annual deficit but Ottawa later said the economy needed a bigger jump start given the downturn.

  • BUENOS AIRES, May 18- Argentina's opposition-controlled lower chamber of Congress on Thursday passed a bill to prevent layoffs in the public and private sectors, challenging the center-right government's efforts to cut a gaping fiscal deficit and spur investment in the battered economy. President Mauricio Macri, who took power in December on a...

  • DUBAI, May 19- The International Monetary Fund backed Saudi Arabia's sweeping economic reform plan on Thursday and said the kingdom was cutting spending at the right speed to cope with a huge state budget deficit caused by low oil prices. The IMF had for years been urging Saudi Arabia to adopt many of those measures, and in a statement on Thursday it said the reform...

  • RIO DE JANEIRO, May 18- Brazil's fiscal deficit prior to debt interest payments could reach 150 billion reais this year as revenues collapse amid a crippling recession economy, Finance Minister Henrique Meirelles said on Wednesday. The Senate President Renan Calheiros has said he will convene both houses next week to vote the new target.

  • Parliament will also vote on a contingency mechanism to automatically impose spending cuts that will be activated only if Athens, which has received three international bailouts since 2010, misses its latest fiscal targets. International lenders want a mechanism that will compel Greece to cut overheads to keep Greece within a 3.5 percent primary deficit...

  • SPRINGFIELD, Ill.— Lawmakers scrambling to find money to fix Illinois' multibillion dollar deficit are looking to sugary drinks as one potential source of revenue. Illinois is facing a $5 billion- and-growing deficit. The proposal in Illinois would impose a penny-per-ounce tax on distributors of bottled sugar-sweetened beverages, syrups or powders.

  • BRUSSELS, May 18- The European Commission on Wednesday issued decisions on how 2016 budgets of euro zone countries fit in with European Union fiscal rules, known as the Stability and Growth Pact, that set limits on government deficit and debt. The Commission could have fined Madrid, using for the first time powers granted by the sharpened EU rules, but decided...

  • NEW YORK, May 13- Connecticut's lawmakers moved to close a projected budget deficit of nearly $1 billion on Friday, the last hurdle for a spending plan that now passes to the governor for signing before the start of the fiscal year on July 1. House lawmakers passed the $19.7 billion austerity budget for the 2016-2017 fiscal year late on Friday evening after the...

  • BRASILIA, May 13- Brazil's new center-right government plans to unveil tough measures soon to curb a massive budget deficit and, depending on the results of a thorough review of the fiscal situation, may consider raising taxes temporarily, the finance minister said on Friday. Henrique Meirelles, a former central bank governor who has been tasked with trying to...

  • *Nigeria needs loans to help fund 2 trillion naira deficit. ABUJA, May 12- Nigeria is still in talks to obtain foreign loans to help fund a record $31 billion budget for this year, aimed at helping Africa's biggest economy cope with a slump in oil prices, its budget minister said on Thursday. Nigeria has applied for a $1 billion loan from both the World Bank and African...

  • *Plan requires nearly $100 bln in new revenues in next few years. DUBAI, May 10- The cost of insuring Saudi Arabia's debt against default has risen since the kingdom announced a plan to wean itself off volatile oil exports, showing that some investors fear it won't be able to raise enough revenue to make the reforms work. Last year's budget deficit was 367 billion...

  • *Australia sees 2016/ 17 budget deficit at A $37.1 bln. CANBERRA, May 3- Australia's conservative government unveiled an economic blueprint on Tuesday aimed at creating jobs and growth in "extraordinary times," just hours after the country's central bank slashed interest rates to an all-time low. Stealing the thunder from the annual budget, the Reserve Bank of...

  • *Australia sees 2016/ 17 budget deficit at A $37.1 bln. CANBERRA, May 3- Australia's conservative government unveiled an economic blueprint on Tuesday aimed at creating jobs and growth in "extraordinary times", just hours after the country's central bank slashed interest rates to an all-time low. Stealing the thunder from the annual budget, the Reserve Bank of...

  • Warren Buffett, chairman of Berkshire Hathaway

    CNBC's Becky Quick talks with billionaire investor Warren Buffett about the markets, interest rates and the deficits.

  • RIO DE JANEIRO, April 27- Brazil's Rio de Janeiro state moved ahead with a plan to raise 1.84 billion reais in oil and gas taxes a year to help close a budget shortfall that has led to school and hospital closures and delayed salary and pension payments. Rio de Janeiro is responsible for two-thirds of Brazil's oil output and 40 percent of its natural gas.