×

Federal Budget (U.S.) Deficits

  • LONDON, June 21- Britain's government borrowed less than expected last month, according to official data on Thursday that may cheer finance minister Philip Hammond but also increase pressure on him to spend more after years of deficit reduction. Public sector borrowing fell in May to 5.0 billion pounds, compared with 7.0 billion pounds a year ago, the Office for...

  • BUENOS AIRES, June 14- Argentina outlined plans to reduce its fiscal deficit and make the central bank independent in a letter of intent to the International Monetary Fund on Thursday, explaining it could take additional measures to achieve the targets of the $50 billion financing deal. The government will ensure revenue forecasts in the budget it will...

  • WASHINGTON, June 12- The U.S. government had a $147 billion budget deficit in May, an increase of 66 percent from the same month last year as the ledger took a hit from declining revenue and higher spending, according to Treasury Department data released on Tuesday. When accounting for calendar adjustments, the government's deficit was $131 billion compared to an...

  • *First rate hike in 4 years to push up government borrowing costs. *Higher rates may hit economic recovery, widen fiscal deficit. MUMBAI/ NEW DELHI, June 7- The Indian central bank's first interest rate rise since Prime Minister Narendra Modi came to power could not have come at a worse time for a government grappling with spending constraints, voter discontent in...

  • *First rate hike in 4 years to push up government borrowing costs. *Higher rates may hit economic recovery, widen fiscal deficit. MUMBAI/ NEW DELHI, June 7- The Indian central bank's first interest rate rise since Prime Minister Nahendra Modi came to power could not have come at a worse time for a government grappling with spending constraints, voter discontent in...

  • ACCRA, June 7- Ghana's central bank expects the local cedi currency to recover as it sells more dollars to local banks, it said on Thursday. Ghana, which exports cocoa, gold and oil, is in the final year of a $918 million credit deal signed in 2015 with the International Monetary Fund to reduce its budget deficit, inflation, debt and to stabilise the local currency.

  • MADRID, May 23- The Spanish government got parliamentary approval on Wednesday for its 2018 budget after the Basque Nationalist Party lent its support, avoiding delays some had feared would be caused by the political stand-off in Catalonia. Spain, which has a deficit target for 2018 of 2.2 percent of economic output, expects its economy to grow 2.7 percent this...

  • CAPE TOWN, May 21- The South African government has agreed a three-year wage deal with public sector unions, granting modest salary increases only slightly above inflation in an attempt to tame its large budget deficit. The salary increases are well below the 12 percent initially demanded by unions and will be seen as a victory for the President Cyril Ramaphosa,...

  • ROME, May 18- Italy's anti-establishment 5- Star Movement published on Friday a program it agreed with the far-right League, proposing a review of the European Union's fiscal rules and "limited" deficit spending to fund tax cuts and increased welfare spending. There are no measures calling into question Italy's membership of the euro zone, and the measures have...

  • WASHINGTON, May 17- China has offered U.S. President Donald Trump a package of proposed purchases of U.S. goods and other measures aimed at reducing the U.S. trade deficit with China by some $200 billion a year, U.S. officials familiar with the offer said. The offer was made during U.S.- China trade talks in Washington aimed at resolving tariff threats and other...

  • BUENOS AIRES, May 17- Argentina's peso weakened slightly to 24.3 per U.S. dollar on Thursday and the central bank offered to intervene in the spot market, traders said, a day after President Mauricio Macri promised to quicken the pace of deficit reduction. Macri said late on Wednesday that recent turbulence in the foreign exchange market, which had pushed...

  • BUENOS AIRES, May 17- Argentina's peso weakened slightly to 24.30 per U.S. dollar on Thursday and the central bank offered to intervene in the spot market, traders said, a day after President Mauricio Macri promised to quicken the pace of deficit reduction. Macri said late on Wednesday that recent turbulence in the foreign exchange market, which had pushed...

  • TORONTO, May 16- Bond investors are looking for clarity on the deficit reduction plans of Doug Ford, the likely next premier of Ontario who has promised to slash spending, before they turn more bullish on the plentiful debt of Canada's most populous province. Ford is the leader of the center-right Progressive Conservative party, which is aiming to end 15 years of...

  • ROME, May 13- The Italian coalition taking shape 10 weeks after March's inconclusive election has made economic promises that seem incompatible with Europe's fiscal rules and will be hard, if not impossible, to keep. On the face of it their plans, which they say may also include a form of parallel currency, could push the budget deficit far above targets agreed with...

  • ROME, May 13- The Italian coalition taking shape 10 weeks after March's inconclusive election has made economic promises that seem incompatible with Europe's fiscal rules and will be hard, if not impossible, to keep. On the face of it their plans, which they say may also include a form of parallel currency, could push the budget deficit far above targets agreed with...

  • BUENOS AIRES, May 7- Argentina's peso closed slightly weaker on Monday, though analysts remained optimistic the government and central bank had curbed a run on the currency with a massive rate hike and lower fiscal deficit target last week. The local currency opened stronger on Monday but closed down 0.41 percent, at 21.97 per U.S. dollar. "The peso may strengthen...

  • BUENOS AIRES, May 7- Argentina's peso closed slightly weaker on Monday, though analysts remained optimistic the government and central bank had curbed a run on the currency with a massive rate hike and lower fiscal deficit target last week. The local currency opened stronger on Monday but closed down 0.41 percent, at 21.97 per U.S. dollar. "The peso may strengthen...

  • BUENOS AIRES, May 7- Argentina's peso closed slightly weaker on Monday, though analysts remained optimistic the government and central bank had curbed a run on the currency with a massive rate hike and lower fiscal deficit target last week. The local currency opened stronger on Monday but closed down 0.41 percent at 21.97 per U.S. dollar. "The peso may strengthen...

  • BUENOS AIRES, May 7- Argentina's peso strengthened on Monday for a second day, a sign the government and central bank had curbed a run on the currency with a massive rate hike and lower fiscal deficit target. "The peso may strengthen or weaken... the idea is that there be little volatility," Treasury Minister Nicolas Dujovne said on local television on Sunday night,...