Federal Budget (U.S.) Deficits

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  • WASHINGTON, July 15- The U.S. budget deficit is projected to rise to $600 billion in 2016, $16 billion less than previously expected, the White House Office of Management and Budget said on Friday.

  • WASHINGTON— The White House on Friday predicted that the government's budget deficit for the soon-to-end fiscal year will hit $600 billion, an increase of $162 billion over last year's tally and a reversal of a steady trend of large but improving deficits on President Barack Obama's watch. The budget and economic update also officially downgrades the White...

  • WASHINGTON— US consumer prices rose a modest 0.2 percent in June as tumbling food prices offset higher energy prices.

  • LONDON, July 14- Britain's new finance minister, Philip Hammond, said on Thursday he would do whatever is necessary to restore confidence in the economy after the Brexit vote, suggesting a less aggressive approach to bringing down the budget deficit. "We're working together across that referendum divide in the party to deliver the best possible deal for Britain.

  • UK Chancellor of the Exchequer George Osborne speaks at a Conservative Party Conference.

    George Osborne, the U.K.'s austerity chancellor, was replaced in new Prime Minister Theresa May's cabinet reshuffle.

  • LONDON, July 14- Britain's new finance minister, Philip Hammond, said on Thursday he will do whatever is necessary to restore confidence in the economy after the Brexit vote, suggesting a softer less aggressive approach to bringing down the budget deficit. "We're working together across that referendum divide in the party to deliver the best possible deal for...

  • LONDON, July 14- New British finance minister Philip Hammond said he would consider how quickly the country should bring down its budget deficit, suggesting he would take a less aggressive approach to that of his predecessor in the job George Osborne. "But now we're entering a new phase in the story of the British economy with the decision to leave the European...

  • The Treasury Department said Wednesday that the government ran a $6.3 billion surplus in June, a month that is often a surplus month because of quarterly tax payments from individuals and businesses. For the first nine months of this budget year that began Oct. 1, the deficit totals $400.8 billion, wider than a deficit of $316.4 billion for the same period last...

  • SANTIAGO, July 11- Chile's 2017 budget talks should consider whether the country will tap into its sovereign wealth funds, finance minister Rodrigo Valdes told lawmakers on Monday. Valdes said use of the funds may be needed at a time when the fiscal deficit is rising, as income from mining investment shrinks. Chile has two sovereign wealth funds, currently valued...

  • BRASILIA, July 7- Brazil set a smaller 2017 primary deficit target than initially envisioned, in an attempt to show greater austerity after an increase in spending raised doubts about the government's fiscal discipline. Finance Minister Henrique Meirelles said the new target is realistic, despite a drop in revenues amid a crippling recession, but the...

  • BRASILIA, July 7- Brazil set a smaller 2017 primary deficit target than initially envisioned, in an attempt to show greater austerity after an increase in spending raised doubts about the government's fiscal discipline. Interim President Michel Temer, who replaced suspended President Dilma Rousseff as she faces an impeachment trial for allegedly breaking...

  • *Spain, Portugal failed to correct excessive deficits in 2014-15. *Spain says will escape fine, set a new fiscal path. BRUSSELS, July 7- The European Commission began formal disciplinary procedures against Spain and Portugal on Thursday for their excessive deficits in 2014 and 2015, which may lead to fines for the two countries before the end of July.

  • PARIS, July 6- France signaled on Wednesday it was sticking to its commitment to bring its budget deficit below the EU-mandated limit of 3 percent next year despite a planned 6.8 billion euro overshoot in public spending. France, the euro zone's second biggest economy, forecasts a public deficit of 3.3 percent this year and 2.7 percent in 2017, which would mean it...

  • BRASILIA, July 5- Brazil will set a 2017 primary budget deficit smaller than the 170.5 billion reais expected for this year, but the final figure will depend on the sale of assets, three government officials told Reuters on Tuesday. Finance Minister Henrique Meirelles said earlier on Tuesday that the deficit plan would be announced on Thursday as the government...

  • BRASILIA, July 5- Brazil will set a 2017 primary budget deficit smaller than the 170.5 billion reais expected for this year, but the final figure will depend on the sale of assets, three government officials told Reuters on Tuesday. Finance Minister Henrique Meirelles said earlier on Tuesday that the deficit plan would be announced on Thursday as the government...

  • LONDON, July 1- Finance minister George Osborne on Friday gave up his centrepiece policy of turning Britain's budget deficit into a surplus by 2020, faced with potential economic stress following the country's shock decision to leave the European Union. It was the latest setback for Osborne who was once considered a future British leader but who has not put...

  • LONDON, July 1- British finance minister George Osborne has dropped his target of turning the country's budget deficit into a surplus 2020, the BBC reported on Friday.

  • TORONTO, June 29- The Canadian crude-producing province of Alberta said on Wednesday it finished the 2015-16 fiscal year with a C $6.4 billion deficit, C $324 million wider than forecast in October, as revenue fell. Total revenue was C $1.3 billion lower than targeted at C $42.5 billion, the province's annual budget report showed. Revenue fell C $7 billion from...

  • BRASILIA, June 29- Brazil posted on Wednesday its largest ever primary budget deficit for the month of May, highlighting the challenges the government faces to close a massive fiscal shortfall amid the worst recession for decades. The primary deficit of 18.125 billion reais in May topped market expectations for a gap of 17.3 billion reais.

  • BRASILIA, June 29- Brazil posted a primary budget deficit of 18.125 billion reais in May, central bank data showed on Wednesday, the largest ever for the month of May as the government faces a battle to close what could be a record shortfall this year. Michel Temer, who as vice president replaced President Dilma Rousseff during her impeachment trial in the Senate, is...