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Federal Budget (U.S.) Deficits

  • LISBON, March 24- Portugal slashed its budget deficit last year by more than half to 2.1 percent of gross domestic product, the lowest level since its return to democracy in 1974 and beating the 2.5 percent target agreed with Brussels. Official data showed on Friday the budget gap ended for the first time below the European Union's 3 percent threshold,...

  • LISBON, March 24- Portugal slashed its budget deficit last year by more than half to 2.1 percent of gross domestic product, the lowest level since its return to democracy in 1974 and beating the 2.5 percent target agreed with Brussels. Official data showed on Friday the budget gap ended for the first time below the European Union's 3 percent threshold,...

  • JERUSALEM, March 22- Israel is likely to post a budget deficit of 2.5 percent of gross domestic product in 2017, below a government target of 2.9 percent, the Bank of Israel said on Wednesday. "The lower-than-targeted deficit is supported by the economy's current near full employment environment, and by the marked contribution of tax receipts from the volatile...

  • *Finance ministry proposes to cut social tax, raise VAT. *Budget will have to raise Pension Fund support. MOSCOW, March 21- A Russian finance ministry proposal to overhaul the tax system could create a budget shortfall and put upward pressure on inflation, Tatiana Golikova, the head of Russia's Audit Chamber, told Reuters in an interview.

  • OTTAWA, March 20- Canada's finance minister will give an update on the deficit when he presents the federal budget on Wednesday, hoping to flesh out plans to spend the way to growth without drawing the wrath of debt-rating agencies and businesses struggling to compete. If the ratio of debt to gross domestic product gets too high under Prime Minister Justin...

  • *Romania holds bond auction, two previous auctions failed. BUDAPEST, March 20- Central European currencies and stocks gave up ground on Monday after Friday's warning from the International Monetary Fund about a rise in Romania's budget deficit and ahead of a government bond auction in Bucharest. That change mainly helped regional currencies and stocks, while...

  • CALGARY, Alberta, March 16- The Canadian crude-producing province of Alberta will post a higher-than-expected budget deficit of C $10.3 billion in the coming fiscal year, it said on Thursday, raising spending as its economy recovers. Alberta, home to Canada's oil sands and the No. 1 exporter of crude to the United States, has benefited from higher global crude...

  • WASHINGTON, March 13- Fourteen million Americans would lose medical insurance by next year under a Republican plan to dismantle Obamacare that would also reduce the budget deficit, a nonpartisan congressional research office said on Monday, throwing President Donald Trump and Republicans on the defensive as they press forward with replacement...

  • WASHINGTON, March 13- Fourteen million Americans would lose medical insurance by next year under a Republican plan to dismantle Obamacare that would also reduce the budget deficit, a nonpartisan congressional research office said on Monday, throwing President Donald Trump and Republicans on the defensive as they press forward with replacement...

  • WASHINGTON, March 13- Fourteen million Americans would lose medical insurance by next year under a Republican plan to dismantle Obamacare that would also reduce the budget deficit, the nonpartisan U.S. The CBO report, which also dealt a potential setback to President Donald Trump's first major legislative initiative, forecast that 24 million more people...

  • Trade deficits a manifestation of our saving deficit: Roach

    Stephen Roach, Yale University senior fellow and former Morgan Stanley Asia chairman, discusses President Trump's trade policies and how they will affect the domestic and global economy.

  • 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...