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…
Dutch budget deficit to rise to 3.4% this year – finance ministry
AMSTERDAM – The Dutch government’s budget deficit will rise to 3.4% of GDP in 2022, the finance ministry said on Friday in its spring budget update, up from expectations of a 2.4%…
Tunisia’s current account deficit to widen to 10% of gdp in 2022
TUNIS – Tunisia’s current account deficit is expected to widen to around 10% of GDP in 2022, against 6.8% initially forecast, the central bank governor said on Friday, as the North Africa…
Taliban’s first annual Afghan budget foresees $501 million deficit
By Mohammad Yunus Yawar KABUL – Afghanistan faces a budget deficit of 44 billion Afghanis ($501 million) this financial year, the country’s Taliban authorities said on Saturday without clarifying how the gap…
Robust imports push U.S. trade deficit to record high in March
WASHINGTON – The U.S. trade deficit surged to a record high in March, confirming that trade weighed on the economy in the first quarter and could remain a drag for a while…
Canada records second surplus of fiscal 2021/22 in February as year-to-date deficit continues to shrink
By Julie Gordon OTTAWA – Canada recorded its second surplus of fiscal 2021/22 in February, as its budget deficit for the first 11 months of the fiscal year shrunk considerably compared with…
Brazil central govt posts smaller-than-forecast deficit in March
BRASILIA – Brazil’s central government reported better than expected fiscal numbers in March, once again supported by higher tax revenue, and suggested a brighter fiscal picture for 2022. The central government recorded…
Russia to cover budget deficit with rainy-day fund in 2022, Finance Minister says
(Reuters) – Russia’s National Wealth Fund (NWF), a rainy-day cushion containing oil revenues, will be the main source of financing for a budget deficit seen at 1.6 trillion roubles ($21.6 billion) or…
Ecuador’s president expects oil prices to cut its fiscal deficit
By Alexandra Valencia QUITO – Ecuador could reduce this year’s fiscal deficit more than it predicted, if crude prices remain high and it is able to sell a state-owned bank, President Guillermo…
Colombia fuel subsidy deficit projected to more than double to $8.8 billion
BOGOTA – Colombia’s fuel subsidy fund is projected to more than double its deficit to 33.7 trillion pesos ($8.8 billion) this year because of high oil prices, the country’s fiscal rule committee…
Euro zone trade deficit extends to Feb as energy import burden rises
BRUSSELS – The euro zone suffered a trade deficit for a fourth consecutive month in February as surging energy prices led to a sharp increase in the value of energy imports, data…
Brazil government sees gross debt at 79.6% of GDP in ’23, sets deficit goal at 65.9 billion reais
By Marcela Ayres BRASILIA – The Brazilian government projected on Thursday that the country’s debt will reach 79.6% of gross domestic product in 2023, rising to 80.3% in 2024 and remaining at…
U.S. March budget deficit falls sharply as revenues surge, COVID outlays drop
(Reuters) – The U.S. government posted a $193 billion budget deficit in March, less than a third of the $660 billion gap a year earlier, the Treasury Department said on Tuesday, as…
Japan’s Feb current account swings back to surplus from big deficit
By Kantaro Komiya TOKYO – Japan’s current account balance swung back into the black in February from its second-biggest deficit on record in the previous month, providing some respite for policymakers amid…
Global coffee market to record 3.1 million bag deficit in 2021/22 – ICO
LONDON – The global coffee market will record a 3.1 million bag deficit in the 2021/22 (October-September) season as top producer Brazil harvests a smaller, ‘off-season’ crop, the International Coffee Organisation (ICO)…
Soaring imports deepen EU’s China trade deficit – Eurostat
(Reuters) – The European Union’s trade deficit with China grew by over a third last year, the bloc’s statistics office said on Friday, as it took in soaring imports from the Asian…
Exclusive-Italy to stick to 5.6% deficit target despite slashing growth outlook – sources
By Giuseppe Fonte and Gavin Jones ROME – Italy plans to confirm its 2022 budget deficit target at 5.6% of national output, two sources close to the matter told Reuters, despite coalition…
Turkey’s C/A deficit seen rising to 4% of GDP this year -Goldman
ISTANBUL – Turkey’s current account deficit is expected to rise to $32 billion or 4.0% of GDP this year, more than the 2.5% previously forecast, Goldman Sachs said, citing rising commodity prices…
US Trade Deficit Hit A Record High In January
US Trade Deficit Hit A Record High In January Harry Wilmerding on March 8, 2022 The U.S. trade deficit continued to grow in January as the import-export gap widened to a record…
Indian trade, current account deficit seen widening, rupee under pressure
By Swati Bhat MUMBAI – India’s trade and current account deficits are likely to widen, putting pressure on the rupee, as global oil prices surge and the domestic economy reopens from a…
Turkey’s trade deficit surges, energy costs add to risks
By Nevzat Devranoglu ISTANBUL – Turkey’s trade deficit widened 186% year-on-year in the first two months of the year due to a surging energy bill, data showed on Wednesday, as soaring commodities…
Bulgaria parliament approves 2022 budget with 4.1% deficit target
SOFIA – Bulgaria’s parliament on Friday rubber-stamped the 2022 budget bill that targets a fiscal deficit of 4.1% of economic output this year, planning for an increased public investment to kick-start the…
Greek December current account deficit widens, tourism revenues up
ATHENS -Greece’s current account balance showed a wider deficit in December last year compared to the same month in 2020 while tourism revenues rose, the Bank of Greece said on Monday. Central…
Slovak current account shows 831 million euro deficit in December
PRAGUE – Slovakia’s current account hit a deficit of 831 million euros ($944.85 million) in December after a revised gap of 122 million euros in November, the central bank said on Friday.…
France will need to boost deficit reduction plans after election – auditor
PARIS – The next French government will need to revise current budget deficit reduction plans after a presidential election in April to ensure France does not fall further behind other European countries,…
Japan’s Jan consumer inflation slows, trade deficit biggest in 8 years – Reuters poll
TOKYO – Japan’s core consumer inflation likely slowed in January from the previous month, a Reuters poll showed, reinforcing expectations the country’s central bank will lag well behind other economies in raising…
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