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Deficits

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  • NEW DELHI, Feb 28- India's Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. "India is about to take off," Jaitley, 62, said early in his speech to lawmakers. "The world is predicting that this is India's...

  • NEW DELHI, Feb 28- India's Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. "The world is predicting that this is India's chance to fly." Reaping the benefits of low global prices for oil, India's main...

  • VIENNA, Feb 26- The euro zone must follow less restrictive economic policies if it wants desired levels of growth and inflation, French Finance Minister Michel Sapin told an Austrian paper, adding talks with the EU on cutting France's budget deficit were "optimal". Asked about the EU giving France more time to meet its deficit target, he said: "I for my part had...

  • France avoids EU penalties over budget deficits Wednesday, 25 Feb 2015 | 11:53 AM ET

    BRUSSELS— France will avoid punishment for missing its budget deficit targets after the European Union gave it two more years to come into line. European Commission Vice-President Valdis Dombrovskis said Wednesday that France now has a 2017 deadline to get its budget deficit equal to or below 3 percent of annual gross domestic product.

  • CAPE TOWN, Feb 25- South Africa will increase income tax rates for the first time in 20 years, Finance Minister Nhlanhla Nene said in a gloomy budget speech on Wednesday, as he cut growth forecasts for an economy beset by chronic power shortages. Nene also widened budget deficit estimates for Africa's most developed economy and said the government would have to...

  • PARIS, Feb 19- France is seeking to fend off the risk of EU sanctions over its budget deficit by telling the European Commission it will meet its structural deficit target this year, even if it means taking extra action to do so. "I want to reaffirm France's commitment to meeting in 2015 the structural adjustment effort of 0.5 percent of GDP foreseen by EU rules,"...

  • SPRINGFIELD, Ill., Feb 18- Illinois Governor Bruce Rauner proposed a fiscal 2016 budget on Wednesday that he said will eliminate a $6.2 billion structural deficit without relying on higher taxes or borrowing. "It will take time to restore Illinois to fiscal health," he said in his budget address to the legislature. Rauner, a political neophyte who took office in...

  • U.S. budget deficit widens a bit in January Wednesday, 11 Feb 2015 | 2:00 PM ET

    WASHINGTON, Feb 11- The U.S. budget deficit widened slightly in January, fueled in part by higher spending on government health care services for low-income Americans, according to data released by the Treasury Department on Wednesday. Compared with a year earlier, Washington spent $5 billion more on Medicaid, which provides health insurance for lower-income...

  • MOSCOW, Feb 11- Russian Economy Minister Alexei Ulyukayev said on Wednesday that the country's budget would run a deficit this year of around 3.8 percent of gross domestic product, based on new macroeconomic forecasts recently released by his ministry.

  • BRASILIA, Feb 10- Brazil's Congress passed legislation on Tuesday that limits the president's ability to reduce pork-barrel spending passed by lawmakers, a setback for President Dilma Rousseff's efforts to fight a fiscal deficit. The bill forces the government to get congressional approval before cutting spending items added to the national budget by...

  • Treasury Secretary Jack Lew signalled that Germany and others in Europe should engage in deficit spending, saying it would not be a "good ride" for the global economy if only the United States was strong. "In Europe, there's a need for more fiscal policy. The meeting of finance ministers and central bankers in Istanbul comes at a difficult time, with major economies...

  • Falling oil prices pull India's budget out of the fire Wednesday, 4 Feb 2015 | 4:00 PM ET

    NEW DELHI, Feb 5- Falling oil prices have been a major windfall for India: Just weeks ago it faced failing to meet fiscal deficit targets, but can now expect a budget that not only hits its targets, but also provides extra cash to support reform. The coming budget for fiscal 2015/ 16, which will be unveiled on Feb. 28, is widely seen as a test of Prime Minister Narendra Modi's...

  • OBAMA FY 2016 BUDGET ACHIEVES ABOUT $1.8 TRILLION IN DEFICIT REDUCTION THROUGH HEALTH, TAX, IMMIGRATION REFORM- WHITE HOUSE.

  • BRASILIA, Jan 30- Brazil fell way short of its main fiscal target in 2014, underscoring the daunting uphill battle that President Dilma Rousseff's new economic team faces to shore up public accounts and prevent a credit rating downgrade. Brazil posted a public sector primary budget deficit of 32.536 billion reais for last year, equal to 0.63 percent of gross...

  • OTTAWA, Jan 27- If Canada's opposition Liberals win the election set for this October they would be able to boost spending on their priorities without necessarily running a budget deficit, party leader Justin Trudeau told Reuters on Tuesday. Prime Minister Stephen Harper's Conservatives, who have been in power since early 2006, portray management of the...

  • WASHINGTON, Jan 26- The U.S. budget deficit will decline slightly to $468 billion this fiscal year, the lowest level since President Barack Obama took office, congressional forecasters said on Monday in a report heralding the end of a brief period of dramatically shrinking red ink. Republicans now in control of Congress seek to eliminate deficits within 10...

  • NEW YORK, Jan 23- Connecticut governor Dannel Malloy ordered a second round of spending cuts in two months on Friday, slicing $31.5 million more from the state's $20 billion budget as officials warned of "very tough choices" ahead. The move was aimed at closing a $31.6 million projected deficit this fiscal year that Connecticut's chief financial watchdog...

  • The real story about the budget deficit  Wednesday, 21 Jan 2015 | 1:14 PM ET

    President Obama said the budget deficit was shrinking, but the numbers are saying something very different.

  • ATHENS, Jan 21- After four years of economic sacrifices, Greece bet it could agree an early end to its international bailout. Greece triggered the regional financial crisis in 2009 when a far higher budget deficit than previously calculated emerged. The collapse of talks in Paris on Nov. 26 set off a month-long sequence of events leading to elections next week and...

  • Jan 20- Massachusetts has will have an estimated $765 million budget deficit this fiscal year due to overspending by the state government, Governor Charlie Baker said on Tuesday. Baker said that a large drain on funds was the $230 million spent for ongoing issues with the state's Health Connector website, the insurance exchange set up under the national...