GO
Loading...

Deficits

More

  • NEW DELHI, Nov 21- India's Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/ 15 fiscal deficit target. After the session ends on Dec. 23, focus will turn to Finance Minister Arun Jaitley's second budget, due in...

  • Serbia reaches loan deal with IMF Thursday, 20 Nov 2014 | 6:47 AM ET

    BELGRADE, Serbia— The Serbian government has secured an agreement with the International Monetary Fund on a $1.2 billion standby loan after promising to slash public spending and rein in debt, officials said Thursday. The three-year deal was reached after Serbia agreed to narrow the budget deficit from 8 percent to 4.2 percent of economic output by 2016 by...

  • Spending cuts sought to close budget shortfall Wednesday, 19 Nov 2014 | 3:29 PM ET

    Deval Patrick's administration ordered nearly $200 million in immediate spending cuts Wednesday while asking lawmakers to approve reductions in local aid and other accounts to help close a state budget shortfall. The gap, currently estimated at $330 million, has been triggered by a number of factors including an automatic change in the Massachusetts...

  • *Ghana seeks provisional IMF deal this week- senior official. ACCRA, Nov 19- Ghana aims to narrow its budget deficit to 6.5 percent of GDP in 2015, from a projected 9.6 percent this year, as it seeks a financial assistance deal with the IMF, Finance Minister Seth Terkper said in his budget speech on Wednesday. The hoped-for three-year deal with the International...

  • ACCRA, Nov 19- Ghana hopes to seal a provisional agreement with the IMF on financial assistance this week and aims to cut its budget deficit to 6.6 percent of GDP in 2015 from more than 9.6 percent in 2014, a senior official told Reuters ahead of Wednesday's budget. In a measure of the fiscal problems, the government has overshot initial 2014 budget deficit and...

  • TORONTO, Nov 17- The Canadian province of Ontario trimmed its economic growth forecasts for the next three years on Monday but left its deficit targets unchanged and said its budget will be balanced by 2017-18.. In his fall fiscal update, Finance Minister Charles Sousa projected a deficit of C $12.5 billion in fiscal 2014-15, ending March 31, unchanged from the...

  • TORONTO, Nov 17- The Canadian province of Ontario said on Monday it continues to project a deficit of C $12.5 billion in fiscal 2014-15, with a balanced budget expected in 2017-18, unchanged from the forecasts in the Liberal government's July budget. In his fall fiscal update, Finance Minister Charles Sousa said there are signs economic growth in the province...

  • US pension insurer ran record $62B deficit in 2014 Monday, 17 Nov 2014 | 12:01 PM ET

    WASHINGTON— The deficit run up by the federal agency that insures pensions for about 41 million Americans has nearly doubled, to $62 billion. The $62 billion deficit reported for the year ended Sept. 30 compared with $36 billion in the previous fiscal year. Agency officials called for Congress to enact legislation submitted by President Barack Obama designed...

  • October budget deficit rises to $121.7 billion Thursday, 13 Nov 2014 | 2:11 PM ET

    The deficit last month was $121.7 billion, up $31.1 billion from a year ago, the Treasury Department reported Thursday. The Congressional Budget Office is projecting a $469 billion deficit for 2015.. But the CBO is forecasting the deficits will start rising for the rest of the decade as baby boomers retire and Social Security and Medicare costs rise.

  • U.S. budget deficit at $122 billion in October Thursday, 13 Nov 2014 | 2:00 PM ET

    WASHINGTON, Nov 13- The U.S. had a budget deficit of $122 billion in October, up 34 percent from the same period last year, according to data released by the Treasury Department on Thursday. Analysts polled by Reuters had expected a $111.7 billion deficit for last month. Last month's deficit was the largest for the month of October since 2011, according to a Treasury...

  • Ahead of the Bell: US budget deficit Thursday, 13 Nov 2014 | 7:25 AM ET

    WASHINGTON— The Treasury Department releases a report on the federal budget for October. BUDGET DOWN: The Congressional Budget Office expects the deficit for October will total $122 billion. That would be higher than a year ago but the increase reflects calendar quirks which required the government to make about $43 billion in benefit payments last month...

  • *Valuations may make Dubai bonds most vulnerable. Oil and gas production account for nearly half of economic output in the six Gulf Cooperation Council nations, some three-quarters of exports, and an even higher ratio of state revenues. Saudi Arabia may even post a budget deficit; the International Monetary Fund has estimated it will need an average oil price of...

  • More pessimistic Kansas revenue forecast expected Monday, 10 Nov 2014 | 11:50 AM ET

    Sam Brownback and the Kansas' GOP- dominated Legislature will get new revenue projections that are expected to make the state's budget problems look worse and intensify discussions about trimming spending. The Legislature's nonpartisan research staff made unofficial predictions going into the meeting of a $14 million budget shortfall by July,...

  • Officials: Kansas faces $279M budget gap by July Monday, 10 Nov 2014 | 5:01 AM ET

    TOPEKA, Kan.— Kansas will face a $279 million budget shortfall by July, far worse than state officials had thought before a new revenue forecast Monday that will force Gov. The state will also be required to close an even bigger additional gap— $436 million— during the following 12 months, according to the new forecast. The new forecast revised previous revenue...

  • TIMELINE-A history of Detroit's fiscal problems Friday, 7 Nov 2014 | 6:02 PM ET

    Nov 7- A U.S. judge on Friday confirmed Detroit's plan to exit the largest-ever municipal bankruptcy. -Detroit's descent into fiscal insolvency can be traced back to the waning days of long-time Mayor Coleman Young's administration, when the city was already deep in debt and struggling with a budget deficit. Both Young and the Michigan state treasurer raised...

  • France should 'obey the rules': Irish PM     Tuesday, 4 Nov 2014 | 8:45 AM ET

    Irish Prime Minister Enda Kenny says the EU should examination "of the circumstances of France" to sort out the country's deficit issue.

  • BRASILIA, Oct 31- Brazil posted its biggest monthly deficit ever in September, underscoring a rapid deterioration of the fiscal accounts that poses the biggest challenge to newly re-elected President Dilma Rousseff's efforts to regain investor trust. That put Brazil at risk of ending 2014 with its first annual primary deficit in nearly two decades.

  • NEW DELHI, Oct 30- Indian Prime Minister Narendra Modi has ordered bureaucrats to forgo the luxury of flying first class and start paying for their spouses' air tickets as he tries to deliver on a promise to cut the fiscal deficit to a seven-year low. While Thursday's small-bore measures copy a playbook New Delhi has relied on since 2012 to trim a bloated deficit,...

  • BRUSSELS, Oct 28- The European Commission provisionally accepted the budgets of France and Italy, saying on Tuesday that no euro zone states had submitted deficit plans for next year that seriously breached EU rules for fiscal stability. A day after Paris and Rome amended their 2015 budgets in the hope of avoiding censure from the European Union executive, the...