New Jersey schools are facing a fiscal cliff as the state spends $7.3 billion on illegal immigration
TRENTON, NJ – As more New Jersey schools continue to report closures, staff layoffs, and even the sale of longtime community schools because of being ‘shortchanged’ by Governor Phil Murphy’s S2 funding…
Brazil’s new fiscal rules stricter than they look, finance ministry official says
BRASILIA (Reuters) – Brazil’s newly introduced fiscal framework is stricter than they appear and will require a discussion of important spending cuts, Gabriel Galipolo, the executive secretary of the Finance Ministry, said…
Japan finance minister Suzuki: Must maintain yen credibility in guiding fiscal policy
TOKYO (Reuters) – Japanese Finance Minister Shunichi Suzuki on Tuesday said he must guide fiscal policy based on common international understanding as global economic and financial situations change greatly. Suzuki told reporters…
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…
China’s fiscal revenue growth quickens as economy recovers
BEIJING (Reuters) – China’s fiscal revenue rose 11.9% in the first four months of 2023 from the same period a year earlier, accelerating sharply from a 0.5% rise in January-March, official data…
Exclusive-Polish fiscal policy should help tackle inflation – IMF
By Gergely Szakacs BUDAPEST (Reuters) – Poland’s government must ensure its fiscal policies support the fight to bring inflation down, the International Monetary Fund’s regional head told Reuters, days after fresh pre-election…
India’s newest infra lender to loan 1 trillion rupees this fiscal -official
By Ira Dugal MUMBAI (Reuters) – The Indian government-backed National Bank for Financing Infrastructure and Development (NaBFID) expects to sanction close to 1 trillion rupees ($12.23 billion) in loans this financial year,…
Republican Speaker McCarthy opposes extending debt-ceiling through fiscal year
WASHINGTON (Reuters) – Republican U.S. House of Representatives Speaker Kevin McCarthy said on Tuesday he opposes the idea of extending the nation’s debt-ceiling through the end of the fiscal year on Sept.…
Emerson Electric raises fiscal 2023 outlook on strong demand
(Reuters) – U.S. engineering and industrial software firm Emerson Electric Co on Wednesday raised its fiscal 2023 outlook and reported better-than-expected quarterly earnings, on the back of strong demand for its automation…
Bank of Japan projects core CPI of 1.6% in fiscal year 2025/26
TOKYO (Reuters) – The Bank of Japan on Friday projected the country’s core consumer price index (CPI) to rise 1.6% in the fiscal year starting in April 2025, announcing the closely watched…
Egypt’s economy seen growing 4% this fiscal year as currency weakens- Reuters poll
By Patrick Werr CAIRO (Reuters) – Egypt’s economy will grow 4.0% this fiscal year and 4.5% next even as it endures a continuing depreciation in its currency, a Reuters poll showed on…
MICHAEL FAULKENDER: A Down Payment On Fiscal Sanity
MICHAEL FAULKENDER: A Down Payment On Fiscal Sanity Michael Faulkender on April 25, 2023 This summer, the U.S. Treasury will exhaust the money in its checking account. The Congressional Budget Office (CBO)…
Japan’s business services inflation hits 8-year high in fiscal 2022
TOKYO (Reuters) – Japan’s business-to-business service inflation hit an eight-year high in the fiscal year that ended March, data showed on Tuesday, a sign inflationary pressure was broadening beyond goods reflecting a…
Denmark presents “tight” fiscal budget to fight inflation
COPENHAGEN (Reuters) – Denmark’s government presented on Monday what it said was a “tight” fiscal spending plan for 2023, seeking to help bring down soaring inflation with a much-delayed budget for the…
San Diego Sector Border Patrol surpasses 100,000 encounters this fiscal year
SAN DIEGO— With the release of updated statistics from U.S. Customs and Border Protection, U.S. Border Patrol San Diego Sector (SDC) has eclipsed the 100,000-encounter mark. From Oct. 1, 2022, to April…
Brazil new fiscal framework designed to ‘last for long time’ -official
SAO PAULO (Reuters) – Brazil’s Treasury Secretary Rogerio Ceron said on Wednesday that a new fiscal framework proposed by the government was designed to last for a long time, facing different economic…
China fiscal revenue turns higher in March on recovering economic activity
BEIJING (Reuters) – China’s fiscal revenue rose in March, reversing a decline in January-February, as economic activity rebounded following the end of strict COVID curbs, but the finance ministry warned that revenue…
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…
IMF’s fiscal chief says U.S. CPI data shows need to maintain inflation fight
WASHINGTON (Reuters) – The U.S. Consumer Price Index data for March shows persistent above-target inflation pressures, “validating” the International Monetary Fund’s emphasis on continuing to fight inflation at IMF and World Bank…
Brazil’s Haddad sees positive signs from cenbank on fiscal efforts
SAO PAULO (Reuters) – Brazilian Finance Minister Fernando Haddad said on Thursday the country’s central bank has sent “several signs” that measures being taken by government to balance public accounts, including a…
World Bank cuts Pakistan’s GDP f’cast on rising rates, limited fiscal space
NEW DELHI (Reuters) – The World Bank sharply lowered Pakistan’s current year growth forecast, saying the country’s economic growth prospects have weakened due to tighter financial conditions and limited fiscal space. The…
China needs to step up fiscal policy help for its economy – vice Finance Minister
BEIJING (Reuters) – China needs to step up fiscal policy assistance for its economy, Vice Finance Minister Zhu Zhongming said on Friday, adding the country will move steadily on implementing preferential tax…
Brazil’s Haddad says fiscal framework will be announced this week
BRASILIA (Reuters) – Brazil’s Finance Minister Fernando Haddad said on Tuesday that the highly anticipated fiscal framework of the new government will be announced this week, following a concluding meeting on the…
‘Temporary Band Aid’: Biden’s Student Loan Plans Could Drive The US Toward Recession, Fiscal Watchdog Argues
‘Temporary Band Aid’: Biden’s Student Loan Plans Could Drive The US Toward Recession, Fiscal Watchdog Argues Alexa Schwerha on March 23, 2023 Biden’s plan to cancel student loans and cut monthly repayments…
Japan firms see global inflation risk as major headwind for fiscal 2023 – Reuters poll
By Rocky Swift TOKYO (Reuters) – Japanese firms see inflation and the chance of worldwide recession as the primary risks they face in fiscal 2023, a Reuters monthly poll showed. Inflation in…
New EU fiscal rules cannot allow ‘a la carte’ polices -Gentiloni
BRUSSELS (Reuters) – The European Union’s planned new fiscal rules cannot give governments a free hand in the choice of fiscal policies, even if they do offer individual debt reduction paths, European…
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