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  • U.S. budget deficit dipped to $192 billion in February Thursday, 12 Mar 2015 | 2:00 PM ET

    WASHINGTON, March 12- The U.S. budget deficit was $192 billion in February, down 1 percent from the same period last year, according to data released by the Treasury Department on Thursday. The deficit was $194 billion in February of 2014, according to Treasury's monthly budget statement. If adjusted for timing-related transactions, the budget deficit would...

  • BEIJING, March 10- China's plan to run its biggest fiscal deficit since the global financial crisis may help develop its bond market, but the extra competition for funding could sink some of the major providers of local government financing. To service China's 1.12 trillion yuan deficit for 2015, up 170 billion yuan from last year, state borrowers will also turn...

  • BEIJING, March 10- China's plan to run its biggest fiscal deficit since the global financial crisis may help develop its bond market, but the extra competition for funding could sink some of the major providers of local government financing. To service China's 1.12 trillion yuan deficit for 2015, up 170 billion yuan from last year, state borrowers will also turn...

  • *Bundesbank chief: failure to fine Paris a "political bazaar". *Berlin, Brussels fear bolstering Hollande's anti-EU rivals. BRUSSELS, March 6- France, Germany and the European Commission believe leaving Paris unpunished for persistently failing to curb its budget deficit was a wise compromise that bolsters the euro.

  • *China keeping an eye on heavily-indebted local governments. BEIJING, March 6- China will pursue an expansionary fiscal policy this year to prevent its economy from stalling, Finance Minister Lou Jiwei said on Friday as he assured investors that authorities are keeping an eye on heavily-indebted local governments. China had announced on Thursday a planned...

  • *China aims to create 10 million new jobs in 2015. *China to open up more sectors to foreign investment. BEIJING, March 5- China plans to run its biggest budget deficit in 2015 since the global financial crisis, stepping up spending as Premier Li Keqiang signalled that the lowest rate of growth in a quarter of a century is the "new normal" for the world's No.2 economy.

  • MOSCOW, March 2- Russia's Finance Ministry has increased its forecast for the country's 2015 budget deficit to 3.8 percent of gross domestic product, a document seen by Reuters showed. The document also showed that the ministry sees the average rouble exchange rate at 61.5 roubles per dollar for 2015, in line with Economy Ministry forecasts.

  • NEW DELHI/ MUMBAI, March 1- India's reform-minded prime minister, Narendra Modi, appears to have passed a major test with a budget that pleased economists and investors with pledges to spend more on modernising India's ageing roads and railways while keeping borrowing in check. "Despite the higher fiscal deficit; the market borrowing number is below market...

  • *Hikes road and rail investment by $11 bln. NEW DELHI, Feb 28- Indian Finance Minister Arun Jaitley on Saturday unveiled a budget that aims to ramp up growth, aided by a slowed pace of fiscal deficit cuts and a raft of tax measures to put private domestic and foreign capital to work. In his first full-year budget since Prime Minister Narendra Modi's landslide...

  • 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...

  • 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...