Federal Budget (U.S.) Deficits

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  • DUBAI, June 7- Investors gave a lukewarm response to Saudi Arabia's economic reform plan on Tuesday as they worried that steps to rein in a $100 billion state budget deficit could cause a deep slowdown in the kingdom. The National Transformation Plan contains hundreds of policies and targets that, if realised, would change the way Saudi Arabia does business.

  • BUENOS AIRES, June 1- An Argentine judge said on Wednesday he had ordered electricity companies not to cut services to consumers who fail to pay sharply increased bills, the latest of several judicial decisions that may endanger President Mauricio Macri's plan to help battle the fiscal deficit with utility charges. The increases, including some which raised...

  • WINNIPEG, Manitoba, June 1- The Western Canadian province of Saskatchewan, hit hard by weak crude oil and potash prices, expects a C $434 million deficit in 2016-17, the government said on Wednesday as it released the year's budget. Premier Brad Wall's right-leaning Saskatchewan Party government plans to spend C $14.5 billion on revenue of C $14 billion in...

  • SAO PAULO, May 25- Brazilian equities rose on Wednesday after interim President Michel Temer's government cleared its first major test in Congress, gaining permission to post a record budget gap this year. "The honeymoon is over and Temer is taking his first steps in Congress," said Jaime Ferreira, head trader at Intercam brokerage in São Paulo.

  • SAO PAULO, May 25- Brazilian equities rose on Wednesday after interim President Michel Temer's government cleared its first major test in Congress, gaining permission to post a record budget gap this year. "The honeymoon is over and Temer is taking his first steps in Congress," said Jaime Ferreira, head trader at Intercam brokerage in São Paulo.

  • BRASILIA, May 25- Brazil's Congress early on Wednesday approved the government's new fiscal deficit target for 2016, in a victory for the country's new administration rattled by the resignation of a key minister initially charged with drawing up the goal. The new deficit target, nearly double what Rousseff had projected, could open the way for more spending...

  • Trump tweaks tax plan

    Donald Trump is not backing off on his tax cut, says Stephen Moore, Heritage Foundation, weighing in on Trump's tax plan. Tax rates are coming down for everybody, says Moore.

  • 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...

  • 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...