CHICAGO, Aug 1- Chicago said its budget deficit was on track to shrink to just below $300 million in 2015, but a state-mandated increase in pension payments would expand gaps in the future.» Read More
NEW DELHI, May 22- India's finance ministry is working on a proposal for the new government to cut welfare spending and rein in the deficit in its first budget, to allay fears of fiscal slippage that would increase the risk of a sovereign credit downgrade.
NEW DELHI, May 15- India's main opposition party, set to form the next government, is debating scrapping or revising a plan to cut the federal fiscal deficit, potentially risking a ratings downgrade, although that could be mitigated if economic growth recovers.
NEW DELHI, May 15- India's main opposition party, set to form the next government, is debating scrapping or revising a plan to cut the federal fiscal deficit to a nine-year low over the next three years, sources with direct knowledge of the situation told Reuters.
WASHINGTON, May 12- The United States posted a $107 billion budget surplus in April, according to Treasury Department figures released on Monday, suggesting the federal government was on track to slash its annual deficit. Washington usually runs a surplus in April because households have a deadline for settling tax bills that month.
Jeroen Dijsselbloem, Eurogroup president, says France still has a lot of work to do to reach its deficit target and that monetary policy is be better left to the ECB.
TORONTO, May 1- Ontario's minority Liberal government unveiled a budget on Thursday that projected a larger-than-forecast deficit for fiscal year 2014-15, but it was not clear whether the budget would get enough opposition support to pass and stave off a summer election.
LISBON, April 30- Portugal's government expects to have room to start reversing public sector salary cuts from 2015 while maintaining its budget deficit reduction targets after the end of its international bailout next month.
Philippe Waechter, head of economic research at Natixis Asset Management, says the new French plan to tackle the country's deficit is too dependent on strong growth forecasts.
TRIPOLI, April 23- Libya plans deep austerity measures to tackle a budget deficit expected to reach up to 10 billion Libyan dinars this year due to rebel blockades which have strangled oil production, a senior lawmaker told Reuters. Libya traditionally runs large surpluses thanks to oil export revenues.
*Japan posts record trade deficit, hits yen. *Unrest in Ukraine likely to limit safe-haven yen's losses. NEW YORK, April 21- The dollar rose to a two-week high against the yen on Monday after Japan posted a record trade deficit in the fiscal year ended in March, though tensions in Ukraine were likely to limit losses on the safe-haven Japanese currency.
PARIS, April 16- France vowed on Wednesday to honour its Europeans commitments on deficit reduction and rushed out details of its grand plan to curb public spending by 50 billion euros between 2015 and the end of President Francois Hollande's term in 2017..
PARIS, April 16- French Prime Minister Manuel Valls on Wednesday provided a breakdown of the government's plan to reduce public spending by 50 billion euros and reiterated that France would honour its European commitments on deficit reduction.
DUBLIN, April 15- Ireland nudged up its growth forecasts for 2014 and 2015, reversing a trend of downgrades over recent years but the government is sticking with planned tax increases and spending cuts to reduce a still high budget deficit.
*Fiscal year 2014 deficit estimated to fall to $492 billion. WASHINGTON, April 14- Health insurance subsidies under the Affordable Care Act will cost slightly less than previously thought, helping to slow down the forecast growth of U.S. deficits over the next decade, the Congressional Budget Office said on Monday.
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.
*Fitch has highest rating, outlook on Portugal among agencies. LISBON, April 11- Rating agency Fitch raised its outlook on Portugal's debt rating to "positive" from "negative" on Friday, citing the country's strong progress in cutting its budget deficit, regaining market access and improving economic growth.
Jens Weidmann, president of the Bundesbank, says that by delaying the correction of its excessive budget deficit twice, France is endangering the credibility of European Union rules.
*Ghana could still meet budget deficit target of 8.5 percent of GDP. ACCRA, April 8- Ghana is paying over-the-odds for its domestic debt but foreign investors are not fleeing the market even though the government has missed a string of fiscal targets, central bank Governor Henry Kofi Wampah told a Reuters Africa Summit.
NEW DELHI/ MUMBAI, April 8- From convincing sceptical bond investors that the fiscal deficit can be contained to concerns that El Nino will devastate agricultural crops, any new government in India will face urgent and critical challenges with no easy solutions.
*Barroso, Van Rompuy smile when asked about Italy budget. *PM Renzi says Italy will respect 3 pct deficit limit. However the reaction in Italy reflected questions over how well Renzi's fast-talking style and his promises to end the austerity policies which have dominated the EU's response to the euro zone debt crisis will go down in Brussels.