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Federal Budget (U.S.) Deficits

  • LONDON, March 8- Sterling fell to a seven-week low on Wednesday ahead of a British budget expected to raise economic forecasts but remain thrifty as finance minister Philip Hammond targets curbing a big fiscal deficit. Hammond is due to announce his tax and spending plans for the year at 1230 GMT, in Britain's first full budget statement since it voted to leave...

  • OTTAWA, March 7- Canada will release its next federal budget on March 22, the finance minister said on Tuesday, setting the stage for a fresh estimate of how big the deficit will get as the Liberal government spends on infrastructure to boost the economy. Finance Minister Bill Morneau told reporters that the budget will extend past efforts to boost an economy that...

  • OTTAWA, March 7- Canadian Finance Minister Bill Morneau said on Tuesday he will release the federal budget on March 22, setting the stage for a fresh estimate of how big the deficit will get as the Liberal government spends on infrastructure to boost the economy. In a response to a question in Parliament, Morneau said the government's spending blueprint will be...

  • *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...

  • LONDON, March 5- Britain's finance minister Philip Hammond said he would not use better news on the country's big budget deficit to spend heavily because he needs to keep "reserves in the tank" for the impending divorce from the European Union. Britain's economy withstood the initial shock Brexit vote in surprisingly good shape last year, meaning official...

  • *China targets 2017 GDP growth target of around 6.5 percent. *China targets 2017 CPI target of around 3 percent. *China targets 2017 budget deficit target at 3 percent of GDP.

  • ACCRA, March 2- Ghana aims to reduce its budget deficit and inflation in 2017, Finance Minister Ken Ofori-Atta said on Thursday in a budget speech designed to show how the new government plans to stabilise the economy. The $40 billion economy would grow at 6.3 percent in 2017 Ofori-Atta said in his first budget since the New Patriotic Party took power in January...

  • President Donald Trump's measured tone in his first speech to Congress lifted optimism and investors viewed a looming interest rate hike as a glass half full. But it was a break in Trump's often-abrasive speaking style that encouraged many investors who have worried he may struggle to push his agenda through a Congress reluctant to widen the budget deficit.

  • CHICAGO, March 1- President Donald Trump outlined a budget plan this week that steers clear of cuts to Social Security and Medicare. Deficit hawks likely will pressure the White House to accept cuts in Social Security and Medicare for future retirees, protecting those already retired or close to it. Retirees and their advocacy groups will fiercely resist...

  • *Egypt floated its pound currency in November. CAIRO, Feb 24- Egypt will receive in March the second $1 billion tranche of a $3 billion World Bank loan aimed at supporting a government economic reform program, Central Bank Governor Tarek Amer said late on Friday. Facing a gaping budget deficit, Egypt began a series of painful economic reforms and has been taking...

  • CHICAGO, Feb 24- The Chicago Public Schools said on Friday it will return $18 million in funding cuts to certain schools in a move that will increase the cash-strapped district's lingering budget deficit to $129 million. "This increases the districts remaining budget deficit from $111 million to $129 million." Illinois Governor Bruce Rauner's veto in December...

  • LONDON, Feb 24- Zambia expects to agree a deal with the International Monetary Fund in the first half of this year, Finance Minister Felix Mutati said on Friday. Last March, Zambia began talks with the IMF about a potential loan package after agreeing that its budget deficit was not sustainable, though formal talks have not yet been launched. He said it was too early...

  • LONDON, Feb 24- Zambia expects to agree a deal with the International Monetary Fund in the first half of this year, Finance Minister Felix Mutati said on Friday. Last March, Zambia began talks with the IMF about a potential loan package after agreeing that its budget deficit was not sustainable, though formal talks have not yet been launched. He said it was too early...

  • CALGARY, Alberta, Feb 23- The government of Alberta, Canada's crude-producing province, kept its 2016-17 budget deficit forecast steady on Thursday in a third-quarter fiscal update, and said the province's battered economy was turning a corner after a prolonged downturn. "A full economic recovery will take time after such a long downturn, but we are starting to...

  • BAGHDAD, Feb 21- Iraq needs oil prices to reach $60 per barrel to plug its public deficit gap, Prime Minister Haider al-Abadi told a news conference in Baghdad on Tuesday. Brent crude was trading at about $57 per barrel on Tuesday. Iraq is OPEC's second largest producer, after Saudi Arabia.

  • Tax revenues flowed strongly into the government's coffers, data for January showed, prompting Britain's official budget forecasters to say the deficit was likely to come in well below the level they had previously predicted. But any significant slackening of the purse strings in two weeks' time looks unlikely, given the challenges ahead for Britain's...

  • ACCRA, Feb 21- Ghana's President Nana Akufo-Addo said in his first state of the nation address the economy was in a "bad way" but he would press ahead with a plan to create jobs, cut the budget deficit and improve sustainable agriculture. "The economy of our country is in a bad way," he said in a speech to parliament frequently interrupted by cheers from lawmakers from the...

  • REUTERS POLL- SOUTH AFRICA EXPECTED TO TARGET 2017/ 18 BUDGET DEFICIT EQUIVALENT TO 3.2 PCT OF GDP.

  • *South Africa to target personal income and sin taxes. JOHANNESBURG, Feb 17- South Africa's finance minister Pravin Gordhan is likely to target income, alcohol and tobacco taxes in his Feb 22 budget to reassure rating agencies that he will gradually rein in the deficit in coming years, a Reuters poll found. "The fiscal situation is a huge challenge for the South...

  • ACCRA, Feb 15- Ghana's President Nana Akufo-Addo has taken power with ambitious plans to revive once spectacular economic growth, only to discover a $1.6 billion hole in the budget and a deficit twice as high as expected. With Ghana more than half way through a three-year International Monetary Fund programme, the new government must reveal in its first budget...