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…
Here’s How Much The Supreme Court Just Shaved Off The Deficit In A Single Ruling
Here’s How Much The Supreme Court Just Shaved Off The Deficit In A Single Ruling Brandon Poulter on June 30, 2023 The Supreme Court ruled Friday that the Biden administration’s plan to…
Swiss energy rescue helps fuel wider 2024 budget deficit forecast
ZURICH (Reuters) – Switzerland expects its budget deficit to widen to 6.7 billion Swiss francs ($7.46 billion) next year due to extraordinary spending on Ukrainian refugees and the electricity sector, the government…
President Biden claims he cut deficit, liberal fact checkers disagree
President Joe Biden on Wednesday posted on Twitter that he had cut the U.S. deficit by $1.7 trillion. The post was immediately flagged by Twitter as misinformation citing articles from the Washington…
Analysis-Biden’s IRA climate bill won’t cut deficit as expected
By Jarrett Renshaw (Reuters) – When President Joe Biden signed his signature Inflation Reduction Act last August, he hailed the collection of green energy tax credits as a major victory for climate…
US budget deficit mushrooms in May as revenue falls, Medicare outlays jump
(Reuters) – The U.S. budget deficit swelled in May from a year earlier as revenue tumbled and Medicare spending surged, the Treasury Department said on Monday in its first monthly accounting of…
US Trade Deficit Skyrockets In April As Exports Plummet Almost $10 Billion
US Trade Deficit Skyrockets In April As Exports Plummet Almost $10 Billion Jason Cohen on June 7, 2023 The U.S. trade deficit ballooned by $14 billion in April compared to March as…
Colombia current account deficit shrank 36.3% in first quarter
BOGOTA (Reuters) – Colombia’s current account deficit shrank 36.3% in the first quarter compared with the same period last year, to $3.42 billion, the central bank said on Thursday, due to a…
Canada’s 2022-23 fiscal year budget deficit shrinks to C$41.31 billion
OTTAWA, May 26 (Reuters) – Canada’s budget deficit in fiscal 2022/23 shrank to C$41.31 billion ($30.89 billion) from C$95.57 billion in the previous year as a post-pandemic economic rebound spurred tax revenue…
Brazil’s government hikes estimate for 2023 budget deficit
BRASILIA (Reuters) – Brazil’s finance ministry forecast a primary budget deficit of 136.2 billion reais ($27.22 billion) this year, compared to 107.6 billion reais projected in March, according to its bi-monthly revenue…
Explainer-What are Russia’s options for managing its widening budget deficit?
By Darya Korsunskaya and Alexander Marrow (Reuters) – As Russia’s military spending soars and sanctions squeeze its energy revenues, Moscow faces a battle to keep its budget deficit in check, with few…
Platinum facing biggest deficit in years as carmakers snap up metal
LONDON (Reuters) – Rising demand from automakers, industry and investors will push the global platinum market into its biggest deficit in years, three industry reports predicted on Monday. The reports underline an…
India’s April merchandise and services trade deficit at 21-month low
By Shivangi Acharya and Manoj Kumar NEW DELHI (Reuters) – India’s merchandise and services trade deficit narrowed to a 21-month low in April as imports dropped partly due to some slackening in…
‘We Do Have A Deficit Problem’: Former Obama Administration Official Dumps Cold Water On MSNBC
‘We Do Have A Deficit Problem’: Former Obama Administration Official Dumps Cold Water On MSNBC Harold Hutchison on May 11, 2023 Former Obama administration official Steve Rattner said Thursday that the United…
Russia’s Jan-April budget deficit hits $44 billion as energy revenues plunge
(Reuters) – Russia’s federal budget recorded a 3.4 trillion rouble ($43.8 billion) deficit in the first four months of the year, the finance ministry said on Wednesday, as Moscow continued to spend…
US trade deficit narrows sharply in March as exports rise
WASHINGTON (Reuters) – The U.S. trade deficit narrowed sharply in March as exports increased, which could position trade to continue contributing to economic growth in the second quarter. The trade deficit contracted…
Russian Finance Minister: Hitting budget deficit of 2% of GDP depends on oil and gas – agencies
(Reuters) – Russia’s forecast of a 2023 budget deficit of no more than 2% of gross domestic product (GDP) remains in force but much depends on oil and gas revenues, Finance Minister…
Spain cuts 2024 budget deficit target to 3% of GDP
MADRID (Reuters) – The Spanish government intends to lower the budget deficit to the equivalent to 3% of gross domestic product in 2024 from 3.9% projected for this year, Budget Minister Maria…
U.S. goods trade deficit narrows sharply in March; retail inventories rise
WASHINGTON (Reuters) – The U.S. trade deficit in goods narrowed sharply in March as exports surged and imports declined, which augurs well for economic growth in the first quarter. The goods trade…
Germany expects deficit of 4.25%/GDP in 2023 – fin min
BERLIN (Reuters) – Germany expects to post a deficit of 4.25% of gross domestic product (GDP) in 2023, up from a 2.6% deficit the previous year, according to finance ministry calculations published…
Indonesia posts $8.7 billion Q1 budget surplus, stronger rupiah seen cutting deficit outlook
JAKARTA (Reuters) – Indonesia posted a 128.5 trillion rupiah ($8.69 billion) budget surplus in the first quarter on strong tax collection and the recent strengthening of the rupiah currency could help further…
Turkish budget deficit widens in March after quakes
ISTANBUL (Reuters) – Turkey’s central government budget recorded a deficit of 47.22 billion lira ($2.46 billion) in March, the Finance Ministry said on Monday, while the cumulative deficit for 2023 so far…
Brazil proposes zero primary budget deficit in 2024, conditions expenditures to new fiscal rules
BRASILIA (Reuters) – Brazil’s Planning Ministry announced on Friday a zero primary deficit target for 2024, but stated that 172 billion reais ($35.03 billion) in government spending depends on the approval of…
U.S. government posts $378 billion deficit in March
(Reuters) – The U.S. government recorded a $378-billion budget deficit in March as outlays outpaced revenues, the Treasury Department said on Wednesday. That compared to a budget deficit of $193 billion in…
Turkey’s current account deficit seen at $8.5 billion in Feb; $45 billion in 2023
ISTANBUL (Reuters) -Turkey is expected to record a current account deficit of $8.5 billion in February on back of high gold and energy imports, a Reuters poll showed on Wednesday, while the…
Italy set to confirm deficit targets for this year and next -sources
By Giuseppe Fonte ROME (Reuters) – Italy is likely to confirm its budget deficit targets for this year and next, people familiar with the matter said, as the Treasury aims for tighter…
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