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Federal Budget (U.S.) Austerity

  • LISBON, Oct 9- Portugal's minority Socialist government should have no problems passing its 2018 budget bill in parliament, President Marcelo Rebelo de Sousa said on Monday after a series of meetings with the main political parties. The Socialists are backed in parliament by the two left-wing parties, the Left Bloc and Communists, who have supported two...

  • DUBAI, Oct 5- Saudi Arabia has told the International Monetary Fund that it is reconsidering the speed at which it imposes austerity steps to avoid slowing the economy too much and boosting unemployment, the IMF said on Thursday. Riyadh has been cutting spending while raising taxes and fees to curb a huge state budget deficit caused by low oil prices.

  • TUNIS, Sept 11- Tunisia's parliament gave Prime Minister Youssef Chahed's new government a vote of confidence on Monday after the premier detailed plans to halve the budget deficit and trim the public wage bill in the next three years as part of a reform package. Chahed last week named a new cabinet after weeks of wrangling between the ruling Nidaa Tounes party...

  • BUENOS AIRES, Aug 30- Argentina's government will forecast economic growth of 3 percent and inflation of 12 percent in 2018 when it presents its budget bill in early September, Senate leader Federico Pinedo told Reuters on Wednesday. "We will be moving towards a lower deficit, much less inflation and more growth," Pinedo, provisional Senate president and a member...

  • EDINBURGH, Aug 23- Scotland's budget deficit narrowed in the year to March but, potentially hampering arguments for Scottish independence, the gap remained more than triple the size of that for the United Kingdom as whole. That compares with a deficit of 2.3 percent of GDP in the UK as a whole. The data were not a prediction of the economy in an independent Scotland,...

  • EDINBURGH, Aug 23- Scotland's budget deficit narrowed in the year to March but, potentially hampering arguments for Scottish independence, the gap remained more than triple the size of that for the United Kingdom as whole. The data were not a prediction of the economy in an independent Scotland, she said, but acknowledged that were Scotland to secede public...

  • BRASILIA, Aug 15- Brazil's government loosened its budget targets for all years through 2020 on Tuesday, delaying prospects for a drop in the federal deficit after legislators repeatedly refused to raise taxes in the recession-hit economy. Ratings agency Standard& Poor's spared Brazil from a downgrade, saying after the announcement that it would maintain...

  • BRASILIA, Aug 15- The Brazilian government on Tuesday set a new primary deficit target for this year and next of 159 billion reais, the finance minister said, in response to lower-than-expected fiscal revenues. The country will also target a deficit of 139 billion reais for 2019, up from 65 billion previously, according to the Finance Ministry's presentation.

  • BRASILIA, Aug 15- The Brazilian government on Tuesday set a new primary deficit target for this year and next of 159 billion reais, the finance minister said, in response to lower-than-expected fiscal revenues. The country will also target a deficit of 139 billion reais for 2019, up from 65 billion previously, according to the Finance Ministry's presentation.

  • BRASILIA, Aug 10- Brazil will probably raise its budget deficit targets for 2017 and 2018 in an announcement planned for Monday, to cope with lower than expected tax revenues in its slow economic recovery, government sources said on Thursday. The government had been expected to announce the revised target on Thursday after a meeting between President Michel...

  • Brazil is currently targeting a deficit of 139 billion reais before interest payments. Investors and analysts say the likely revision would only mark a blip in an otherwise solid trajectory toward fiscal austerity that has restored optimism in Brazil, Latin America's largest economy. Fernando Honorato, the chief economist at Brazil's No. 3 listed bank,...

  • BRASILIA, July 20- Brazil's government on Thursday increased a spending freeze and raised taxes to cover a budget gap this year, reinforcing its commitment to fiscal discipline but dealing a potential blow to fragile economic growth. Brazil lost its investment-grade rating in 2015 after missing budget targets for years. Brazil targets a budget deficit of 139...

  • BRASILIA, July 20- Brazil's government will increase this year's spending freeze and raise taxes to cover a budget gap, two sources told Reuters on Thursday, reinforcing its commitment to fiscal discipline but dealing a potential blow to fragile economic growth. Brazil lost its investment-grade rating in 2015 after missing its budget targets for years.

  • Mayor of Le Havre Edouard Philippe speaks as he presents the candidates for the 'La Republique en marche' party ahead of the June parliamentary elections

    Prime Minister Edouard Philippe told lawmakers on Tuesday that it was time to end France's addiction to public spending and rein in debts.

  • BRASILIA, June 29- Brazil's government is still on track to hit its annual budget target despite a sharp and unexpected widening of the deficit last month, the country's Treasury chief said on Thursday. The government, which is trying to push an unpopular austerity agenda through Congress, posted a primary budget deficit of 29.371 billion reais in May, compared...

  • LONDON, June 21- Britain's government said it would pay greater heed to public concerns about austerity but stuck with the broad outlines of its plans to reduce the budget deficit as it set out its legislative plans for the next two years on Wednesday. After Prime Minister Theresa May failed to win a majority in an early election on June 8, there had been...

  • LONDON, June 15- Sterling fell half a percent against a broadly stronger dollar in morning trade in London on Thursday, with weak retail sales numbers and concerns about efforts to form a new minority government driving it back below $1.27. "The overall trend is still not bad, the retail numbers are still holding up, but the likes of the CBI, the BRC are not optimistic,"...

  • *France unlikely to meet budget deficit ceiling. *Italy needs tax, judicial reforms. BRUSSELS, May 22- Euro zone countries improved their fiscal stance, a sign of growing financial stability, the EU Commission said on Monday, but it called on France to take new action to comply with EU deficit limits and warned Italy faced "urgent" challenges.

  • Greek Prime Minister Alexis Tsipras

    Greece's Parliament has passed a budget of continued austerity as mandated by the country's creditors, but which forecasts robust growth for 2017.

  • UK FinMin should not be reckless: Economist

    British Finance Minister Phillip Hammond should "play it safe and wait for ... the fog to clear" post-Brexit, says Simon Wells, chief UK economist at HSBC.