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Deficits

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  • JAKARTA, Oct 15- Indonesia faces a $6.15 billion tax revenue shortfall this year, a finance ministry document shows, raising concerns that the fiscal deficit could bust a legal limit, and place president-elect Joko Widodo into an early budget and political crisis. Breaking the budget law could feasibly embolden the opposition to launch an impeachment bid, even...

  • JAKARTA, Oct 15- Indonesia faces a 75 trillion rupiah tax revenue shortfall this year, a finance ministry document obtained by Reuters shows, raising concerns that the fiscal deficit could bust the limit set in a budget law. President-elect Joko Widodo takes office next Monday knowing that he has to act swiftly to boost revenue collection and cut spending to...

  • Oct 14- France's finance minister reaffirmed the country's commitment to conducting economic reforms on Tursday after ratings agency Fitch placed its AA+ rating on French bonds on negative watch, citing risks to growth and deficit-reduction plans. "Therefore, we believe there are downside risks to France's long-term growth potential."

  • *Italy says won't amend budget to increase deficit cuts. *Italy cabinet to sign off on budget on Wednesday. ROME/ LUXEMBOURG, Oct 14- Italy and the European Commission were on a collision course over Rome's 2015 budget plan, which Brussels says flouts EU recommendations but Rome says it has no intention of changing ahead of a Wednesday deadline.

  • LUXEMBOURG, Oct 13- France faced intensifying pressure from euro zone peers on Monday to tighten spending next year amid a growing rift over its plans to flout European budget rules. France, which has already been given an extra two years to meet deficit targets, says it will not bring its deficit down to within EU limits until 2017- four years later than originally...

  • *France under fire for deficit, Germany for budget rigour. "As the two largest economies in Europe, France and Germany have a particular responsibility and a critical role to play to ensure both a rapid recovery and a strong and sustainable growth going forward," Gabriel and Macron write. By asking the two experts to make reform recommendations for both countries,...

  • LUXEMBOURG, Oct 13- France faced renewed pressure from euro zone peers on Monday to tighten spending next year, amid a growing rift over its plans to flout European budget rules. Euro zone countries are required to abide by European Union rules that limit a country's budget deficit to no more than 3 percent of gross domestic product. France, which has already been...

  • WASHINGTON, Oct 10- The chairman of euro zone finance ministers proposed on Friday a new growth deal for Europe which would reward governments reforming their economies with cheap European funds for investment and leeway on budget deficit targets. Europe is on the brink of recession and is desperate to boost economic growth to reduce almost record-high...

  • HIGHLIGHTS-Malaysia's 2015 budget Friday, 10 Oct 2014 | 4:49 AM ET

    KUALA LUMPUR, Oct 10- Prime Minister Najib Razak unveiled Malaysia's 2015 budget on Friday, with an eyes on how the government plans to cut the fiscal deficit, bring down its own debt, piled up close to a self-imposed limit of 55 percent of gross domestic product. For Malaysia's economic report click on. *2015 budget allocates total 273.9 billion ringgit, an increase...

  • BRUSSELS, Oct 8- France's Pierre Moscovici, the EU commissioner-designate who will take charge of policing budget discipline in the euro zone, said he was ready to step up disciplinary action against Paris for not respecting its obligations under EU budget rules. EU finance ministers asked France last year to cut its budget deficit to below the EU ceiling of 3...

  • *France would then be granted more time for deficit reduction. The Commission is also likely to step up the disciplinary procedure against France to the final stage before fines while at the same time granting Paris the extra two years it wants to bring down its budget shortfall within EU limits. The decisions, some of which will be taken by the outgoing...

  • *France would then be granted more time for deficit reduction. The Commission is also likely to step up the disciplinary procedure against France to the final stage before fines while at the same time granting Paris the extra two years it wants to bring down its budget shortfall within EU limits. The decisions, some of which will be taken by the outgoing...

  • BRAMPTON, Ontario, Oct 2- Canada's budget deficit for the 2013/ 14 fiscal year is likely to be C $5.2 billion, rather than the C $16.6 billion forecast in February, Prime Minister Stephen Harper said on Thursday. He said Canada would run a small deficit in the 2014/ 15 fiscal year before returning to surplus in 2015/ 16.. Harper's Conservatives, who face an election in...

  • *France postpones deficit reduction by a further two years. PARIS, Oct 1- France laid down the gauntlet to EU partners on Wednesday with a 2015 budget setting out how it would bring its borrowing back to within EU limits two years later than promised, a retreat it blamed on a fragile economy.

  • French growth dependent on state spending: Pro  Wednesday, 1 Oct 2014 | 4:15 AM ET

    Philippe Waechter, head of economic research at Natixis Asset Management, says that France will have more time to reduce its deficit as large cuts in government spending would put growth at risk.

  • 'Skeptical' about France's deficit cut plan: Pro  Wednesday, 1 Oct 2014 | 3:00 AM ET

    Bill Blain, strategist from Mint Partners, says France has "made no effort" to bring its deficit to the 3 percent target demanded by the EU.

  • BRASILIA, Sept 30- Brazil's auction of fourth-generation cell spectrum on Tuesday raised much less than expected as only three of four major carriers took part, leaving the government without revenue it needs to plug a big budget deficit.

  • PARIS, Sept 29- France will tighten its budget less than promised even when the impact of the downturn in the economic cycle is stripped out of the equation, Les Echos newspaper reported on Monday.

  • CAIRO, Sept 25- Egypt's current account deficit shrank to $2.4 billion in the 2013-14 fiscal year from $6.4 billion the previous year, boosted by billions of dollars in aid from Gulf Arab donors, the central bank said on Thursday.

  • *Big infrastructure projects pushing up spending. DUBAI, Sept 24- Saudi Arabia's state finances could fall into the red next year and the country could start running down its huge foreign reserves if it does not rein in the growth of government spending, the International Monetary Fund said.