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Federal Budget (U.S.) Deficits

  • RIYADH, Dec 22- Saudi Arabia said on Thursday it had successfully cut into its huge state budget deficit this year and will increase government spending in 2017 to boost flagging economic growth. The financial challenges for Saudi Arabia stem largely from the fall in the global price of oil over the past 2-1/ 2 years. Riyadh slashed spending on infrastructure and...

  • LONDON, Dec 21- Britain's budget gap narrowed last month, keeping finance minister Philip Hammond on track to meet his new, less ambitious deficit reduction goals, but the country's fiscal watchdog said future months would pose a tougher test. Last month Hammond formally abandoned his predecessor George Osborne's goal to run a budget surplus by 2020, as the...

  • Data showing Britain's public finances with a slightly bigger-than-expected deficit in November- but on track to meet new, less ambitious deficit reduction goals- had little impact on the pound, which was trading down 0.3 percent on the day at $1.2331. Sterling has for the past six months been less sensitive than usual to economic data, driven more by concerns...

  • DUBAI, Dec 21- Saudi Arabia's state budget for 2017, which is expected to be released on Thursday, will boost spending to support economic growth while raising domestic energy prices to ease the government's subsidy burden, sources told Reuters. The deficit totalled a record 367 billion riyals in 2015, and the original budget for this year projected a 326...

  • The government of Puerto Rico will now face a budget deficit of $67.5 billion over the next 10 years if there are no changes made to its current laws, no new federal funding or any reduction in expenses, increases in revenue, structural reforms or restructuring of its long-term debt and pension obligations, the statement said. "According to the Revised Baseline...

  • NEW YORK, Dec 20- Puerto Rico's federally appointed financial oversight board revealed on Tuesday a fresh budget deficit projection prepared by the outgoing government that is $10 billion more than forecast in October, the board said in a statement. "According to the Revised Baseline Projections, the deficit the Government of Puerto Rico faces over the next 10...

  • SYDNEY, Dec 19- Australia's conservative government on Monday forecast a A $10 billion deterioration in its budget deficit over the next four years but still hoped to snatch a surplus by 2021 and forestall a damaging downgrade of its top credit rating. S&P Global Ratings, which put Australia on negative watch back in July, said the update had no immediate impact...

  • SYDNEY, Dec 19- Australia's conservative government on Monday forecast a A $10 billion deterioration in its budget deficit over the next four years but still hoped to snatch a surplus by 2021 and forestall a damaging downgrade of its top credit rating. S&P Global Ratings put Australia on negative watch back in July and there has been speculation it could cut the...

  • SYDNEY, Dec 19- Australia's conservative government on Monday forecast a A $10 billion deterioration in its budget deficit over the next four years but still hoped to snatch a surplus by 2020/ 21 and forestall a downgrade in its top credit rating. S&P Global Ratings put Australia on negative watch back in July and might even cut the rating a notch later on Monday...

  • ABUJA, Dec 14- Nigeria expects its 2017 deficit to rise to 2.36 trillion naira, President Muhammadu Buhari said on Wednesday, as the government tries to drag Africa's biggest economy out of recession with a budget that foresees record spending. Buhari is facing rising disenchantment with his handling of the economy as Nigeria struggles with 18 percent...

  • BRASILIA, Dec 13- Brazilian senators on Tuesday passed a 20- year public spending ceiling proposed by President Michel Temer to control a ballooning budget deficit, a crucial step in an austerity drive to rescue Brazil's stalled economy. Temer said the move to limit spending by constitutional amendment was unprecedented and will be followed by an equally...

  • BRASILIA, Dec 13- Brazilian senators on Tuesday passed the main text of a 20- year public spending cap proposed by President Michel Temer to control a ballooning budget deficit, a crucial step in his plan to rescue Brazil's stalled economy. Authorities braced for protests outside Brazil's Congress organized by labor unions and left-wing groups opposed to...

  • RIYADH/ DUBAI, Dec 13- Saudi Arabia's 2017 state budget is likely to show Riyadh has shrunk a huge deficit caused by cheap oil faster than expected, which may let it spend more to bolster a shaky economy. Growth slowed sharply and speculators bet against the Saudi currency as the government fought to curb a deficit that totalled a record 367 billion riyals in 2015..

  • BAGHDAD, Dec 7- Iraq's parliament approved the 2017 budget on Wednesday, lawmakers said, but a member of the Kurdish KDP said his party stayed away from the vote and differences between Baghdad and Kurdish authorities in the north had yet to be resolved. The deficit was forecast at 21.7 trillion dinars, with expenditure of 100.7 trillion dinars, about 6 percent...

  • Gregory Mankiw

    Trump's administration has become too keen on tackling the trade deficit, which has some benefits, economist Gregory Mankiw tells CNBC.

  • LONDON, Dec 6- Russia will make a "significant push" for faster privatisations, though stake sales in some companies such as lender VTB may have to wait until Western sanctions are lifted, Deputy Finance Minister Alexei Moiseev said on Tuesday. Russia has so far sold shares in diamond producer Alrosa and oil company Bashneft to help plug its budget deficit.

  • LONDON, Dec 6- Russia will make a "significant push" for faster privatizations, though stake sales in some companies such as lender VTB may have to wait until Western sanctions are lifted, Deputy Finance Minister Alexei Moiseev said on Tuesday. Russia has so far sold shares in diamond producer Alrosa and oil company Bashneft to help plug its budget deficit.

  • MADRID, Dec 2- Spain's minority government has agreed to raise the minimum wage and regional deficit targets, seeking to placate the Socialist opposition in a bid to win Parliamentary support for the first step of the 2017 budget. The long-delayed budget, which will aim to bring down one of Europe's largest public deficits, was put on hold after two inconclusive...

  • Sen. James Lankford, R-Okla., holds a press conference on Capitol Hill to release his annual 'Federal Fumbles' waste report on federal spending on Monday, Nov. 28, 2016.

    In eight years, we'll spend more on interest on our debt than on national defense, Sen. James Lankford tells CNBC.

  • However, Abrahão said asset repatriation could gain even more momentum if Brazil's government wins congressional approval for deficit-cutting bills under discussion and succeeds in pulling Latin America's No. 1 economy out of a deep recession. Abrahão's remarks underscore the view that Brazil's fiscal agenda could transform the country's long-term...