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Deficits

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  • 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
    The real story about the budget deficit

    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...

  • *Revised budget assumes world oil price of $55 instead of $100. KUALA LUMPUR, Jan 20- Malaysia ringgit currency fell to a six-year low on Tuesday as the government cut its economic growth forecast, reduced its budget and widened its fiscal deficit target for 2015, to reflect lower oil and gas revenues due to plunging world prices. Announcing revisions to a 2015...

  • KUALA LUMPUR, Jan 20- Malaysia has increased its fiscal deficit target to 3.2 percent of gross domestic product for 2015 and cut its forecast for economic growth to adjust its budget after a sharp fall in earnings from oil and gas, Prime Minister Najib Razak announced on Tuesday. The government had assumed a price of $100 a barrel last October, whereas the price of...

  • KUALA LUMPUR, Jan 20- Malaysia has increased its fiscal deficit target to 3.2 percent of gross domestic for 2015 as the government needed to adjust its budget due to a sharp fall in earnings from oil and gas, Prime Minister Najib Razak announced on Tuesday. He said the revised budget would assume a global oil price of around $55 a barrel. The original budget had...

  • Australia: No plans to increase GST   Sunday, 18 Jan 2015 | 8:50 PM ET
    Australia: No plans to increase GST

    Josh Frydenberg, Assistant Treasurer of Australia, says the nation is not aiming to increase the rate or base of the goods and services tax (GST).

  • TORONTO, Jan 18- Canada's Conservative government is prepared to curb spending to eliminate the deficit in 2015, a senior minister said on Sunday, just days after the government said it would delay unveiling its next budget so it can weigh the impact of tumbling oil prices. Employment Minister Jason Kenney also said eliminating the budget deficit for the first...

  • NEW DELHI, Jan 16- Indian Prime Minister Narendra Modi said on Friday he was committed to meeting this year's budget deficit target, welcoming a cut in interest rates by the Reserve Bank of India on the back of falling inflation. In a speech, Modi said his government would cut wasteful spending, streamline the payment of welfare benefits and raise investment in...

  • ANKARA, Jan 15- Turkey's economy will grow around four percent this year and inflation will fall "comfortably" to the central bank's forecast of 6.1 percent, Finance Minister Mehmet Simsek said on Thursday. The budget deficit stood at 22.7 billion lira last year, Simsek told a news conference in Ankara, up from 18.5 billion in 2013 but sharply below a government...

  • MUMBAI, Jan 15- The Reserve Bank of India surprised markets with a 25 basis point reduction in interest rates on Thursday and signaled it could cut further, amid signs of cooling inflation and what it said was a government commitment to contain the fiscal deficit. While the early move was unexpected, aggressive reductions in rates have been seen as likely over the...

  • MUMBAI, Jan 15- The Reserve Bank of India surprised markets with a 25 basis point cut in interest rates on Thursday and signalled it could do more, amid signs of slowing inflation and what it said was a government commitment to contain the fiscal deficit. While the early move was unexpected, aggressive reductions in rates have been expected over the course of the...

  • UPDATE 1-Indian central bank surprises with early rate cut Wednesday, 14 Jan 2015 | 11:00 PM ET

    MUMBAI, Jan 15- The Reserve Bank of India cut its repo interest rate by 25 basis points to 7.75 percent in a surprise move on Thursday, making its first reduction in a year as inflation showed signs of slowing and the government was making efforts to contain the fiscal deficit. Helped by plunging global oil prices, India's wholesale price index for December rose...

  • *Japan seen to halve deficit; budget-balancing goal still distant. TOKYO, Jan 14- Japanese Prime Minister Shinzo Abe's cabinet approved on Wednesday a record $812 billion budget for the fiscal year starting on April 1, while cutting new borrowing for a third straight year in a bid to balance growth and fiscal reform. A projected rise in tax revenue to a 24- year high...