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…
Canada records C$3.55 billion budget deficit over first eight months of 2022/23
OTTAWA, Jan 27 (Reuters) – Canada recorded a C$3.55 billion ($2.67 billion) budget deficit for the first eight months of the 2022/23 fiscal year, partly due to higher debt charges, the finance…
Philippines posts $4.6 billion trade deficit in December
MANILA (Reuters) – The Philippines posted a trade deficit of $4.6 billion for December, the biggest trade gap in three months, government data showed on Thursday. That brought the full-year trade deficit…
India’s 2023/24 budget likely to be cautious, cutting deficit
By Aftab Ahmed NEW DELHI (Reuters) – The Indian government will present a budget on Feb. 1 that will likely put deficit reduction ahead of vote-winning spending, even as Prime Minister Narendra…
Russia says budget deficit hit 2.3% of GDP in 2022
(Reuters) – Russia recorded a budget deficit of 2.3% of its gross domestic product in 2022, Finance Minister Anton Siluanov said on Tuesday, reflecting the burden of the Ukraine war on state…
South Korea’s Nov current account turns to deficit from surplus in Oct
SEOUL (Reuters) – South Korea had its third month of current account deficit in 2022 in November, mainly hit by still high import costs of energy at a time of shrinking exports,…
Turkish 2022 trade deficit leaps 138% to $110.2 billion -ministry
ISTANBUL (Reuters) – The Turkish trade deficit widened 138.4% from the previous year to $110.19 billion in 2022, the Trade Ministry said on Monday, with exports rising 12.9% to $254.2 billion and…
Bulgaria expects fiscal deficit of 1% of GDP for 2022
SOFIA (Reuters) – Bulgaria expects to end 2022 with a fiscal deficit of 1.5 billion levs ($821.11 million), equal to 1.0% of economic output, outperforming a revised target of 3.4%, the finance…
Canada posts C$174 million deficit over first seven months of 2022/23
OTTAWA, Dec 23 (Reuters) – Canada recorded a C$174 million ($127.91 million) budget deficit for the first seven months of the 2022/23 fiscal year, partly due to higher debt charges, the finance…
Tunisia seeks to cut fiscal deficit to 5.5% in 2023, led by economic reforms
By Tarek Amara TUNIS (Reuters) -Tunisia expects to reduce its fiscal deficit to 5.5% next year from a forecast 7.7% this year, driven by austerity measures that could pave the way for…
U.S. current account deficit shrinks in third quarter
WASHINGTON (Reuters) – The U.S. current account deficit narrowed sharply in the third quarter as exports jumped to a record high, data showed on Wednesday. The Commerce Department said that the current…
Greek Jan-Nov primary budget deficit beats target, tax revenues help
ATHENS (Reuters) -Greece’s central government reported a lower-than-expected primary budget deficit in the first 11 months of the year as tax revenues slightly beat initial estimates, finance ministry data showed on Thursday.…
New Zealand forecasts recession next year but a narrower budget deficit
By Lucy Craymer and Alasdair Pal WELLINGTON (Reuters) – New Zealand’s government on Wednesday forecast the country would enter a recession in 2023, even as the budget remained on target to move…
US Deficit Hits Nearly $250 Billion, Smashing November Record
US Deficit Hits Nearly $250 Billion, Smashing November Record John Hugh DeMastri on December 13, 2022 The U.S. federal budget deficit set a record for the month of November, jumping $57 billion…
Russia to see huge budget deficit in Dec after Gazprom-fuelled surplus in Nov
MOSCOW (Reuters) – Russia’s monthly budget deficit could reach 3.5 trillion roubles ($55.38 billion) in December for the government to see an annual deficit at 2% of GDP as promised, after a…
Ukrainian officials warn of winter-long power deficit
KYIV (Reuters) – Ukrainian officials said on Friday the country’s energy system was stabilizing after the latest round of Russian air strikes but warned that a power deficit was likely to last…
German government deficit to hit 4.5% in 2023 – Spiegel
BERLIN (Reuters) – The German government’s public deficit will be significantly higher in 2023 than previously thought, reaching 4.5%, due mainly to energy relief measures, the Spiegel news magazine reported on Friday,…
Serbia’s parliament adopts 2023 budget, sets growth at 2.5%, deficit at 3.3%
BELGRADE (Reuters) – Parliament adopted Serbia’s budget for next year on Friday, projecting growth at 2.5% of national output and a 3.3% deficit, down from 3.9% set for 2022, as the country…
Australia records first current account deficit in three years
By Wayne Cole SYDNEY (Reuters) – Australia’s current account fell into deficit for the first time in three years last quarter as robust domestic demand sucked in imports and miners paid more…
U.S. goods trade deficit widens sharply in October
WASHINGTON (Reuters) – The U.S. trade deficit in goods widened sharply in October as exports declined amid slowing global demand and a strong dollar. The goods trade deficit surged 7.7% to $99.0…
Romania’s Jan-Oct consolidated budget deficit at 3.37%/GDP-Finance Minister data
BUCHAREST (Reuters) – Romania’s consolidated budget deficit widened to 3.37% of gross domestic product in the first ten months from 3.04% at the end of September, finance ministry data showed on Friday.…
Brazil posts current account deficit of $4.6 billion in October
BRASILIA (Reuters) – Brazil’s current account deficit in October came slightly lower than expected, central bank data showed on Friday, in the wake of a better trade balance surplus and a significant…
Platinum deficit expected in 2023 after bumper surpluses, WPIC says
LONDON (Reuters) – The World Platinum Investment Council (WPIC) said on Tuesday it expected a deficit of the metal used in vehicle exhausts, industry and jewellery in 2023 after a hefty surplus…
German government deficit could hit 3.5% in 2023 – Spiegel
BERLIN (Reuters) – Germany’s government deficit could reach as high as 3.5% next year, the Spiegel news magazine reported on Friday citing experts from the Finance Ministry. According to their estimates, the…
Silver heads for biggest deficit in decades, Silver Institute says
LONDON (Reuters) – Global demand for silver is expected to rise 16% this year to 1.21 billion ounces, creating the biggest deficit in decades, according to the Silver Institute on Thursday night.…
Spain’s Jan-Sep trade deficit widens four-fold on energy prices
MADRID (Reuters) – Soaring energy prices pushed Spain’s trade deficit in the first nine months of the year to widen four-fold from the same period a year earlier, to 53.44 billion euros…
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