California Is Staring Down The Barrel Of A Yawning Budget Deficit. Can It Even Be Fixed?
California unveiled a huge budget deficit earlier this year, which has led experts to wonder if the state can even balance its budget without relying on short-term gimmicks. The state is expected…
Israel cabinet set to vote on 2024 wartime budget, higher deficit
By Steven Scheer JERUSALEM (Reuters) -Israeli cabinet ministers on Sunday began what is expected to be a marathon session on approving an amended 2024 budget to account for a sharp rise in…
US budget deficit for December up 52% to $129 billion
WASHINGTON (Reuters) – The U.S. federal government posted a December deficit of $129 billion, up $44 billion or 52% from a year earlier as outlays rose while receipts fell from December 2022…
Turkey’s current account turned to deficit in November – Reuters poll
ISTANBUL (Reuters) – Turkey’s current account is expected to record a deficit of $1.7 billion in November, after two months of surplus, and the deficit was seen at $45 billion at end-2023,…
Indonesia books smallest fiscal deficit in 12 years in 2023
By Stefanno Sulaiman and Gayatri Suroyo JAKARTA (Reuters) -Indonesia has reduced its 2023 budget deficit significantly to 347.6 trillion rupiah ($22.48 billion), equivalent to 1.65% of gross domestic product (GDP) based on…
Italian minister raises doubt over whether 2023 deficit goal can be met
ROME (Reuters) – Italian Economy Minister Giancarlo Giorgetti raised doubts on Friday over whether Rome’s 2023 deficit target could be met due to costly fiscal incentives for green home improvements. The government…
US current account deficit narrows in third quarter on petroleum exports
WASHINGTON (Reuters) – The U.S. current account deficit was the smallest in more than two years in the third quarter amid rising petroleum exports, government data showed on Wednesday. The Commerce Department’s…
Brazil’s Congress approves government target to eliminate primary deficit in 2024
BRASILIA (Reuters) – Brazil’s Congress approved its budgetary guidelines bill on Tuesday, setting the goal of eliminating the primary deficit by 2024, but including a provision allowing for a limited reduction in…
Poland sees higher 2024 deficit as govt implements pay rise pledges
By Anna Koper and Karol Badohal WARSAW (Reuters) – Poland’s revised 2024 budget pencils in a deficit of 184 billion zlotys ($46.44 billion), the government said on Tuesday, higher than previously forecast…
US budget deficit hits record high for November on interest costs
WASHINGTON (Reuters) – The U.S. federal budget deficit jumped 26% in November from a year earlier to $314 billion, a record for the month and the highest since March, the Treasury Department…
Gavin Newsom’s California Has Reached A New Milestone — A $68 Billion Budget Deficit
Gavin Newsom’s California Has Reached A New Milestone — A $68 Billion Budget Deficit Will Kessler on December 7, 2023 California’s budget deficit has nearly tripled since last year, culminating in the…
Gavin Newsom’s California Has Reached A New Milestone— A $68 Billion Budget Deficit
Gavin Newsom’s California Has Reached A New Milestone— A $68 Billion Budget Deficit Ryan Meilstrup on December 7, 2023 California’s budget deficit has nearly tripled since last year, culminating in the largest…
US trade deficit widens in October on weak exports
WASHINGTON (Reuters) – The U.S. trade deficit widened more than expected in October as exports declined, likely positioning trade to be a drag on economic growth in the fourth quarter. The trade…
S&P revises Bahrain’s outlook to ‘stable’ on fiscal deficit worries
(Reuters) – S&P Global Ratings on Friday revised Bahrain’s outlook to “stable” from “positive”, citing spending pressures that could push the country’s fiscal deficit wider than the credit ratings agency previously expected.…
Indonesia’s budget tips into deficit in October, on track for full year target
JAKARTA (Reuters) – Indonesia’s state budget tipped into 0.7 trillion rupiah ($45.19 million) deficit for the January-October period, having shown 67.7 trillion rupiah surplus in the first nine months, and was on…
Italy needs to get tougher on debt, deficit -IMF’s Georgieva
ROME (Reuters) – Italy should be taking tougher action to deal with its deficit and debt levels, the head of the International Monetary Fund (IMF) said in an interview published online on…
Brazil’s govt 2023 primary deficit forecast deteriorates, approaching fiscal target
BRASILIA (Reuters) – Brazil’s government projections for its public accounts in 2023 have substantially worsened, with the deficit before interest expenses now nearing the annual fiscal target, as indicated by its latest…
Russia’s budget deficit seen at around 1% of GDP this year -finance minister
MOSCOW (Reuters) – Russia’s budget deficit will be around 1% of gross domestic product (GDP) this year, Finance Minister Anton Siluanov said on Wednesday, marking the latest improvement in Russia’s fiscal health…
Brazil to maintain target of zero fiscal deficit in 2024
BRASILIA (Reuters) – Brazil’s Institutional Relations Minister Alexandre Padilha said on Thursday there will be no initiative from the government to change its fiscal target, which currently foresees erasing the country’s fiscal…
JPMorgan ratchets up Israel’s 2024 budget deficit forecast
By Marc Jones LONDON (Reuters) -Israel’s war with Hamas in Gaza will lead to a larger-than- expected budget deficit next year, investment bank JPMorgan said on Wednesday, adding that the cost of…
China can raise 2024 budget deficit ratio to spur growth – central bank adviser
BEIJING (Reuters) – China can raise its budget deficit ratio next year to support the economic recovery because there is still space for the central government to issue more debt, Wang Yiming,…
Testa Urges State to Stop Jersey City’s Risky Deficit Scheme
Sen. Michael Testa sent a letter to the New Jersey Local Finance Board requesting that they soundly reject Jersey City's proposal to issue $182 million of debt.…
US Treasury seen boosting auction sizes as budget deficit worsens
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. Treasury is likely to boost the size of auctions for bills, notes, and bonds in the fourth quarter when it announces its financing…
IMF wants strong budget, narrower deficit from Sri Lanka
NEW DELHI (Reuters) -The International Monetary Fund (IMF) is looking for a strong budget and narrower deficit from Sri Lanka as it seeks funding to bridge the gap between government revenue and…
Italian party to ask constitutional court to rule against govt deficit hike
ROME (Reuters) – An Italian centrist opposition party led by former Prime Minister Matteo Renzi said on Wednesday it would appeal to the constitutional court to rule unlawful the government’s decision to…
ECB’s Knot says Italy is paying price for higher deficit
STRBSKE PLESO, Slovakia (Reuters) – Italy is paying the price for raising its deficit targets via higher borrowing costs, European Central Bank policymaker Klaas Knot said on Friday, telling governments to tighten…
Breaking News
