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…
Spain’s Jan-June trade deficit widens almost six-fold to 32 billion euros
(Reuters) – Spain’s trade deficit in the first six months of the year widened almost six-fold from the same period a year earlier to 32 billion euros ($32.6 billion), the Industry Ministry…
Swiss expect 5 billion franc budget deficit due to pandemic, Ukrainian help
ZURICH (Reuters) – The Swiss government is expected to run a budget deficit of 5 billion Swiss francs ($5.25 billion) for 2022, it said on Wednesday, citing extraordinary costs from tackling the…
Costly energy imports push euro zone into trade deficit in June
BRUSSELS – Euro zone countries swung into a trade deficit in June from a surplus 12 months earlier because of soaring prices of imported gas and oil, Eurostat data showed on Tuesday.…
U.S. July budget deficit down 30% as COVID spending falls, revenues edge up
WASHINGTON – The U.S. government posted a $211 billion budget deficit for July, a 30% drop from the $302 billion deficit reported in the same month last year, as receipts grew slightly…
Philippines trade deficit at $5.84 billion as imports surge
MANILA – The Philippines posted a $5.84 billion trade deficit in June, the widest gap based on data running from January 2020, government figures showed on Tuesday, ahead of the release of…
Japan runs first current account deficit in 5 months
By Daniel Leussink TOKYO – Japan ran a current account deficit for the first time in five months in June as surging imports eclipsed exports, data showed on Monday, highlighting the pressure…
Turkey’s C/A deficit seen at $3.4 billion in June; $40.2 billion at year-end: Reuters poll
ISTANBUL – Turkey’s current account is expected to record a deficit of $3.4 billion in June and end the year with a deficit of more than $40 billion, a Reuters poll showed…
U.S. trade deficit narrows sharply; exports at record high
WASHINGTON – The U.S. trade deficit narrowed sharply in June as exports surged to a record high, a trend that could see trade continuing to contribute to gross domestic product in the…
India’s trade deficit to remain above $20 billion – Barclays
MUMBAI – India’s trade deficit is likely to remain above $20 billion for an extended period, posing the risk of a wider current account deficit, Barclays said. “While we still expect the…
U.S. goods trade deficit narrows sharply in June; inventories increase
WASHINGTON – The U.S. trade deficit in goods narrowed sharply in June amid a surge in exports, which could potentially calm fears that the economy contracted again in the second quarter. The…
Brazil government improves primary budget deficit forecast for 2022
BRASILIA – Brazil’s government projected a lower primary budget deficit this year, official figures showed on Friday, with a booming tax collection helping to improve the short-term fiscal balance. The Economy Ministry…
France sees slower growth stalling deficit reduction in 2023
PARIS – French economic growth will slow sharply next year in the face of mounting geopolitical risks, pushing back improvement in the public sector budget deficit until afterwards, the Finance Ministry said…
Hungary approves 2023 budget and deficit cuts after pre-poll spending spree
By Krisztina Than and Anita Komuves BUDAPEST -Hungary’s parliament on Tuesday approved the 2023 budget, which sets out to reduce the budget deficit next year to 3.5% of economic output from a…
Ecuador affirms deficit target of 2% of GDP despite protests -minister
QUITO – Ecuador is holding firm to its fiscal deficit target for the year of 2% of gross domestic product (GDP), economy minister Pablo Arosemena said on Monday, despite losses to oil…
Hungary’s budget deficit widens to 2.892 trillion forints by end-June
BUDAPEST – Hungary posted a 2.892 trillion forints ($7.21 billion) budget deficit in January-June, the Finance Ministry said on Friday, adding that Prime Minister Viktor Orban’s government was committed to a 4.9%…
U.S. trade deficit narrows in May; exports hit record high
WASHINGTON – The U.S. trade deficit narrowed in May as slowing domestic demand amid rising interest rates curbed imports, which could see trade contributing to economic growth in the second quarter after…
Czech finance minister seeks to keep 2022 budget deficit below $14.1 billion
PRAGUE – Czech Finance Minister Zbynek Stanjura said on Sunday he wanted to keep the 2022 state deficit from rising above 330 billion crowns ($14.1 billion) in a budget amendment being worked…
India’s May trade deficit widens to $24.29 billion – trade ministry
NEW DELHI – India’s May trade deficit widened to $24.29 billion from $6.53 billion a year ago, a government statement said on Wednesday. May’s trade deficit was pushed up by a surge…
S.Korea June 1-10 exports shrink 12.7%, trade deficit at $6 billion
SEOUL – South Korea’s exports for the first 10 days of June shrank 12.7% from the same period a year before, customs agency data showed on Monday. The country’s imports grew 17.5%,…
Exclusive-Czech minister plans lower 2023 deficit to keep fiscal plans on track
By Jan Lopatka and Jason Hovet PRAGUE – The Czech Republic’s finance minister told Reuters he aimed to keep next year’s budget deficit target below this year’s plan – after a report…
Philippines April trade deficit narrows but still close to $5 billion
MANILA – The Philippines posted a $4.8 billion trade deficit in April, narrower than the previous month’s three-month high of $5 billion, as imports sustained a double-digit growth, the statistics agency said…
Goldman raises Brent price outlook on unresolved supply deficit
(Reuters) – Goldman Sachs increased its Brent oil price forecasts by $10 to $135 a barrel for the period between the second half of 2022 and the first half of next year,…
Czech budget deficit to surpass CZK 300 billion in 2022 amid Ukraine war -minister
PRAGUE – The Czech state budget will surpass 300 billion crowns ($13.05 billion) this year, overshooting a 280-billion-crown target, Finance Minister Zbynek Stanjura said, as spending is pushed up by the impact…
Pakistan slashes fuel subsidies in bid to control fiscal deficit – finance minister
KARACHI, Pakistan – Pakistan will slash fuel subsidies for a second time in a week in a bid to control the fiscal deficit and secure International Monetary Fund (IMF) bailout money, the…
Canada’s budget deficit falls to C$95.57 billion in fiscal 2021/22 as pandemic wanes
By Julie Gordon Canada’s budget deficit in fiscal 2021/22 shrank to C$95.57 billion ($75.02 billion) from C$314.00 billion in the previous year, as emergency spending on the COVID-19 pandemic eased, preliminary data…
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