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…
U.S. trade deficit widens in February as goods exports fall
WASHINGTON (Reuters) – The U.S. trade deficit widened more than expected in February as exports of goods declined, suggesting that trade could drag on economic growth in the first quarter. The trade…
Italy sees 2023 deficit on target despite higher rates, Eurostat setback – sources
By Giuseppe Fonte ROME (Reuters) – Italy estimates a 2023 budget deficit broadly in line with its previous goal of 4.5% of national output, people familiar with the matter said, as Rome…
US goods trade deficit widens as exports decline
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit in goods widened modestly in February as exports declined, potentially setting up trade to be a small drag on economic growth in…
India current account deficit likely narrowed to 2.7% of GDP in Q4: Reuters poll
By Madhumita Gokhale BENGALURU (Reuters) – India’s current account deficit is likely to have improved in the final quarter of 2022 from a nine-year high in July-September as the goods trade gap…
US current account deficit narrows in fourth quarter
WASHINGTON (Reuters) – The U.S. current account deficit narrowed in the fourth quarter amid an improvement in secondary income receipts as well as an increase in the services surplus, data showed on…
Energy bill support pushes UK budget deficit to February record
By Andy Bruce and Sachin Ravikumar LONDON (Reuters) -Britain’s government borrowed more than expected in February, official data showed on Tuesday, but finance minister Jeremy Hunt may still hope that falling energy…
Euro zone trade deficit flat in Jan despite increased energy import spend
BRUSSELS (Reuters) – The euro zone trade deficit was little changed in January from a year earlier, with sharply higher cost of energy imports outweighing a pick-up of manufactured goods exports, data…
Philippines posts biggest trade deficit in 5 months
MANILA (Reuters) – The Philippines posted its widest trade deficit in five months for January as exports fell sharply, pointing to a worsening trade balance that could put pressure on the peso…
Turkey’s current account deficit widens to record level in January
ISTANBUL (Reuters) – Turkey’s current account deficit widened to $9.85 billion in January, data from the central bank showed on Monday, the highest level in four decades of available data, driven by…
U.S. deficit grows to $262 billion in February as tax refunds surge
WASHINGTON (Reuters) – The U.S. government posted a $262 billion budget deficit in February, up 21% from a year earlier, as outlays grew and revenues fell, due largely to higher tax refunds…
South Korea Jan. current account logs record monthly deficit
SEOUL (Reuters) – South Korea’s current account logged a record deficit in January, central bank data showed on Friday, as exports of goods slumped and overseas travel increased. The country’s current account…
U.S. trade deficit widens moderately in January
WASHINGTON (Reuters) – The U.S. trade deficit widened moderately in January as both imports and exports increased strongly. The trade deficit increased 1.6% to $68.3 billion, the Commerce Department said on Wednesday.…
Turkey’s current account deficit at $10 billion in January; $43.5 billion in 2023 – Reuters Poll
ISTANBUL (Reuters) – Turkey is expected to record a current account deficit of $10 billion in January on back of gold imports, a Reuters poll showed on Wednesday, while the deficit was…
Italy posts firm growth in 2022, but budget deficit overshoots
By Antonella Cinelli and Valentina Consiglio ROME (Reuters) – Italy posted firm economic growth of 3.7% last year but the budget deficit far exceeded official forecasts due to the cost of tax…
Turkish trade deficit jumps 38% to $14.2 billion in January
ISTANBUL (Reuters) – Turkey’s foreign trade deficit widened 38.4% year-on-year to $14.24 billion in January, official data showed on Monday, with imports surging 20.7% and exports up 10.3%. The Turkish Statistical Institute…
Canada records C$5.54 billion budget deficit over first nine months of 2022/23
OTTAWA (Reuters) – Canada recorded a C$5.54 billion ($4.06 billion) budget deficit for the first nine months of the 2022/23 fiscal year, partly due to a rise in debt charges linked to…
Russian 2023 budget deficit to widen as price caps take effect – Scope
BERLIN (Reuters) – Lower revenues from oil and gas exports will significantly widen Russia’s budget shortfall this year, according to an analysis from the European ratings agency Scope obtained by Reuters on…
Hong Kong under pressure to cut spending in budget as deficit soars
By Jessie Pang and Donny Kwok HONG KONG (Reuters) – Hong Kong is under pressure to rein in spending when it unveils its annual budget on Wednesday, after racking up huge fiscal…
Indonesia plans to narrow 2024 fiscal deficit, sees higher GDP growth
JAKARTA (Reuters) – Indonesia expects to bring its budget to a narrower fiscal deficit next year, even as its economic growth is predicted to accelerate, senior officials said on Monday, as President…
Pakistan current account deficit falls to $0.2 billion in Jan – cenbank
By Ariba Shahid KARACHI, Pakistan (Reuters) – Pakistan’s current account deficit (CAD) dropped to $0.2 billion in January 2023, down 90% from last year as the rupee’s depreciation slowed down imports, the…
Russia stands by 2% of GDP budget deficit plan after huge Jan shortfall
By Darya Korsunskaya and Alexander Marrow MOSCOW (Reuters) -Russia’s finance ministry is sticking with plans to post a budget deficit of no more than 2% of gross domestic product (GDP) in 2023,…
US Notches Record Trade Deficit In 2022 — Thanks Partly To China
US Notches Record Trade Deficit In 2022 — Thanks Partly To China Trevor Schakohl on February 7, 2023 The U.S. trade deficit increased to its highest recorded level in 2022, thanks in…
Kenya tweaks 2022/23 spending, deficit estimates in supplementary budget
NAIROBI (Reuters) – Kenya’s finance ministry has tweaked its spending and budget deficit estimates for the current fiscal year that ends in June to show a slight increase in overall expenditure but…
India ‘fairly’ confident of cutting fiscal deficit to 4.5% of GDP in 3 years -official
By Nikunj Ohri NEW DELHI (Reuters) – India is ‘fairly’ confident it can meet its target to cut its fiscal deficit by nearly 200 basis points to 4.5% of GDP in the…
Turkey’s tourism gains in war-hit 2022 but trade deficit widens
By Canan Sevgili and Can Sezer ISTANBUL (Reuters) – Turkey’s tourism revenue hit a record $46.3 billion in 2022 even as its trade deficit swelled to more than $109 billion, as a…
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