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Deficits

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  • Stronger economy helps trim U.S. budget deficit Wednesday, 10 Dec 2014 | 2:00 PM ET

    WASHINGTON, Dec 10- The U.S. federal budget deficit narrowed in November, helped by a strengthening economy that boosted tax receipts during the month, Treasury Department data showed on Wednesday. Washington spent $56.8 billion more than it took in last month, which was less than half the deficit in November of 2013. It was also narrower than analysts'...

  • UK: A decade of austerity?  Thursday, 4 Dec 2014 | 4:20 AM ET

    Discussing the U.K. Autumn Statement, Alan Clarke, director of fixed income strategy, global banking and markets at Scotiabank, says George Osborne and the U.K. government have set themselves an "ambitious" target to make those spending cuts.

  • Osborne said he was sticking to his promise to put Britain's budget back in the black before the end of the decade, hoping that his approach to fixing the public finances will return Prime Minister David Cameron to power on May 7. Osborne said Britain's deficit would be bigger than previously expected in the current financial year and in 2015/ 16 before improving...

  • Five months before a national election, Osborne said Britain's deficit would fall to 5.0 percent of gross domestic product in the 2014/ 15 financial year. That compared with a forecast of 4.9 percent made in March by Britain's independent budget office. The slightly slower pace of improvement largely reflects how Britain's strong economic recovery has not...

  • TOKYO, Dec 1- Japanese Prime Minister Shinzo Abe needs to take more steps to meet the government's deficit-reduction targets, Tom Byrne, regional credit officer of Moody's Investors Service said on Monday. "A delay means there is more uncertainty about measures to reduce the deficit. His remarks came after Moody's downgraded Japan's sovereign debt rating by...

  • MOODY'S: DELAY IN JAPAN SALES TAX HIKE HAS INCREASED UNCERTAINTY ON DEFICIT REDUCTION TARGETS.

  • MOODY'S: JAPAN PM ABE NEEDS TO TAKE MORE STEPS TO MEET DEFICIT REDUCTION TARGETS.

  • ATHENS, Nov 21- Greece's government on Friday pushed ahead with plans for a near-balanced budget next year, ignoring objections from its international lenders who say Athens is set to miss its deficit forecast. The government and the European Union and International Monetary Fund have been at loggerheads over the projected 2015 deficit, with the lenders...

  • ACCRA, Nov 21- The International Monetary Fund said on Friday it made significant progress in a third round of talks with Ghana on a financial aid programme aimed at helping the West African country out of a fiscal crisis. Escalating inflation, a currency that has fallen sharply this year and a high budget deficit have severely undermined Ghana's reputation as a...

  • NEW DELHI, Nov 21- Indian 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 without cuts. After the session ends on Dec. 23, focus will turn to Finance Minister Arun Jaitley's second budget,...

  • 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...

  • *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...

  • 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...

  • *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...

  • 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.