Federal Budget (U.S.) Deficits

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  • TORONTO, Feb 25- Ontario's debt issuance has turned the corner and is expected to fall for a second straight year in 2016-17 as improved economic growth and asset sales help reduce funding needs and keep the province on track for a balanced budget. The province expects to borrow C $26.4 billion in 2016-17, C $3.7 billion less than 2015-16, Ontario's government...

  • SHANGHAI, Feb 25- China could in theory raise its budget deficit to more than 4 percent of gross domestic product to help support growth, a senior central bank researcher wrote in a commentary posted late on Wednesday. "In the near future, it's possible to raise China's fiscal deficit rate to 4 percent, or even higher," Sheng Songcheng, director of the Survey and...

  • BRASILIA, Feb 24- President Dilma Rousseff's plan to reform Brazil's pension system might not get passed by Congress this year, her cabinet minister in charge of legislative affairs, Ricardo Berzoini, said on Wednesday. Rousseff plans to send Congress a proposal in April to reform Brazil's onerous pension system that is a main factor in a growing fiscal deficit...

  • OTTAWA, Feb 23- Canada's ruling Liberals will cap the coming year's budget deficit at C $30 billion- three times larger than originally pledged- as they try to stick to long-term budget plans, according to senior government sources. Four insiders, who spoke on condition of anonymity because of the sensitivity of the topic, said a 2016-17 deficit of C $30 billion, or...

  • OTTAWA, Feb 22- Canada's Liberal government warned on Monday it would run much bigger budget deficits than previously anticipated, amid weaker-than-expected economic growth caused by low commodity prices. He said the 2016-17 budget gap would be C $18.4 billion, with a 2017-18 deficit of C $15.5 billion. In November, the Liberals had forecast that excluding...

  • OTTAWA, Feb 22- Canada's new Liberal government, citing a sluggish economy and low commodity prices, cut its growth forecast on Monday for 2016-17 and said it would run a much bigger budget deficit than earlier expected. He said the 2016-17 budget deficit would be C $18.4 billion, while the 2017-18 deficit will be C $15.5 billion. "Short-term deficits will be larger...

  • OTTAWA, Feb 22- Canada's new Liberal government, citing a sluggish economy and low commodity prices, on Monday cut its growth forecast for 2016-17 and said it would run a much bigger budget deficit that initially promised. Finance Minister Bill Morneau, citing an average of private sector economists' forecasts, said growth in 2016 would be 1.4 percent, down from...

  • MUMBAI, Feb 22- India will sell a 5 percent stake worth about $730 million in its top power producer NTPC Ltd, as the government races against time to raise funds via asset sales to meet this year's fiscal deficit target. The NTPC share sale will begin on Tuesday, the government said, and if successful, will be the biggest divestment by the state in about six months...

  • BRASILIA, Feb 19- Brazil's government said on Friday it will cut its key fiscal target to a deficit from a surplus this year if tax revenues continue to fall, in a move that increased market doubts about leftist President Dilma Rousseff's commitment to austerity. Congress must approve the new fiscal target. "It certainly falls well short of the more determined...

  • BRASILIA, Feb 17- Standard& Poor's downgraded Brazil's credit rating deeper into junk territory on Wednesday, citing its failure to curb its fiscal deficit, in a surprise blow to President Dilma Rousseff`s bid to haul the economy out of its worst recession in decades. S&P cut Brazil's sovereign credit rating to BB from BB+ with a negative outlook, just five months...

  • Feb 16- Puerto Rico's government "believes that there is substantial doubt" about its ability to continue as a going concern, it said in a draft of its long-delayed Fiscal Year 2014 financial report. The draft, released on Tuesday night, reported a $49.2 billion deficit as of June 30, 2014, which was $2.5 billion higher than in 2013. The report also said the island's...

  • TORONTO, Feb 16- Ontario Finance Minister Charles Sousa said on Tuesday he will unveil the provincial budget on Feb. 25. Canada's most populous province said in November it expects a smaller budget deficit in the current fiscal year than previously thought, helped by the initial public offering of utility Hydro One Ltd.. Ontario, which accounts for about 40...

  • *Budget shortfall up to $30 bln if oil prices stay at $30. MOSCOW, Feb 10- Russia is running out of options to plug a yawning hole in its budget- and steps unthinkable before oil prices began to plunge 20 months ago are now being considered. It could face an additional shortfall of up to 2.5 trillion roubles this year if crude prices stay at around $30 per barrel, putting...

  • WASHINGTON, Feb 9- President Barack Obama on Tuesday unveiled a budget that proposed $2.9 trillion in deficit reduction over 10 years, largely by curbing tax breaks for the wealthy and proposing new savings in the Medicare and Medicaid health care programs. The budget would boost spending to $4.1 trillion for 2017, up $196 billion from fiscal 2016, while...

  • WASHINGTON, Feb 9- President Barack Obama on Tuesday unveiled a budget that proposed $2.9 trillion in deficit reduction over 10 years, largely by curbing tax breaks for the wealthy and proposing new savings in the Medicare and Medicaid health care programs. The budget would boost spending to $4.1 trillion for 2017, up $196 billion from fiscal 2016, while...

  • *France, Italy, Spain, Portugal at odds with EU commitments. BRUSSELS, Feb 4- Almost half of euro zone countries are facing a clash over EU deficit reduction rules unless they change policies, European Commission forecasts showed, posing a challenge to EU laws that set limits on spending to protect the value of the euro. Governments also argue that they need to spend...

  • *Russia in dire need of cash as oil prices slide. MOSCOW, Feb 2- Russian oligarchs are the most likely potential buyers of the stakes in some of the country's largest companies that President Vladimir Putin wants to sell. The preliminary privatization plan, aimed at preventing the state budget deficit from ballooning, coincides with a second year of recession for...

  • *Russia in dire need of cash as oil prices slide. MOSCOW, Feb 2- Russian oligarchs are the most likely potential buyers of the stakes in some of the country's largest companies that President Vladimir Putin wants to sell. The preliminary privatisation plan, aimed at preventing the state budget deficit from ballooning, coincides with a second year of recession for...

  • TORONTO, Feb 1- Tanking fertilizer prices have worsened the economic and budget outlook for the Canadian province of Saskatchewan, where the oil shock has already stalled growth, pushed the government into deficit and caused its bonds to underperform. Saskatchewan may have seen no growth, at best, in 2015, economists said, and given the latest potash news, this...

  • NEW DELHI, Feb 1- Indian Finance Minister Arun Jaitley wants to hit his fiscal deficit targets in this month's budget and may scale back some corporate tax breaks to do so, according to people directly involved in the process. Here's a look at India's fiscal deficit targets and major corporate giveaways:. Sources: Finance Ministry, Reuters poll.