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Federal Budget (U.S.) Deficits

  • On Aug. 10, Oklahoma's State Supreme Court ruled against a measure passed during the last legislative session that created a $1.50 "cessation" fee for cigarette packs. A special session would cost Oklahoma an additional $30,000 per day, according to an August statement by the state's House Democratic Caucus. Oklahoma's fiscal issues stem from tax cuts and...

  • BUENOS AIRES, Aug 31- Argentina plans to cut energy and transportation subsidies worth 0.6 percent of gross domestic product next year as the government aims to lower the fiscal deficit to 3.2 percent of GDP, a Treasury Ministry official told Reuters on Thursday. The government is also depending on economic growth to increase tax revenues, and on...

  • 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...

  • Congress likely to attach 'big Texas relief project' to a bill: Brookings Institute's David Wessel

    David Wessel, Brookings Institution senior fellow in economic studies, shares insight into the government's response to Hurricane Harvey and how it may actually help avoid a government shutdown.

  • BRASILIA, Aug 28- Lawmakers will not take up President Michel Temer's bill to reform Brazil's costly social security system until the second half of September at the earliest, the government's chief whip in Congress said on Monday. Brazil's budget deficit has reached almost 10 percent of the country's output and pension reform is Temer's main measure to bring...

  • NAFTA talks off to a very bad start: Fmr. US Commerce Secretary Gutierrez

    Carlos Gutierrez, former U.S. Commerce secretary, talks about the stumbling blocks ahead as the second phase of renegotiating the North American Free Trade Agreement is set to begin.

  • WARSAW, Aug 24- Poland's preliminary deficit will come to 41.5 billion zlotys next year against 59.3 billion in 2017, according to a budget draft for next year prepared by the finance ministry and seen by Reuters on Thursday. The draft also assumes higher value-added-tax, or VAT, collection by about eight billion zlotys next year. The government will have its...

  • 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/ RIO DE JANEIRO, Aug 22- Brazil's plan to privatize power holding company Centrais Elétricas Brasileiras SA could help lure investment into the industry rather than simply help cut the budget deficit, officials said on Tuesday as the move sparked a surge in shares of state-controlled firms. The transaction should be concluded by mid-2018, and could...

  • SAO PAULO/ BRASILIA, Aug 21- Brazil on Monday floated a proposal to cede control of the country's biggest power utility, Eletrobras, in the boldest privatization yet by a government struggling to close a record budget deficit, sending Eletrobras' shares soaring in after-market trading. The Mining and Energy Ministry gave Centrais Elétricas Brasileiras SA, the...

  • Transports in focus at NAFTA talks

    CNBC's Morgan Brennan takes a look at which transport stocks stand to win or lose the most from revised NAFTA rules.

  • US comes out swinging in first round of NAFTA negotiations

    Antonio Ortiz-Mena, Albright Stonebridge Group, provides insight to the tough trade talk and negotiations among the U.S., Mexico and Canada.

  • Chrystia Freeland, Canada's minister of foreign affairs, center, talks to Bob Lighthizer, U.S. trade representative, next to Ildefonso Guajardo Villarreal, secretary of economy for Mexico, right, after opening statements during the first round of North American Free Trade Agreement (NAFTA) renegotiations in Washington, D.C., U.S., on Wednesday, Aug. 16, 2017.

    NAFTA negotiations around "rules of origin" could affect supply chains and raise costs.

  • firms@ SAO PAULO, Aug 16- Brazilian markets seesawed on Wednesday as credit ratings agency Standard& Poor's spared the country from a downgrade after the government loosened budget targets for years to come. Brazil on Tuesday widened its primary budget deficit goals through 2020 after lawmakers repeatedly refused to raise taxes needed to boost...

  • 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,...