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 cenbank chief says fiscal prudence central to inflation aims
BRASILIA (Reuters) -Brazil’s central bank chief Roberto Campos Neto emphatically defended the need for fiscal balance on Friday, following statements by leftist President-elect Luiz Inacio Lula da Silva that soured the markets…
Fiscal and social concerns equally important for Brazil’s economy, Itau CEO says
SAO PAULO (Reuters) – Fiscal and social concerns should be given equal weight in the running of Brazil’s economy, the chief executive of bank Itau Unibanco said on Friday, referring to market…
IMF backs Latam progressive taxes, fiscal discipline
By Rodrigo Campos NEW YORK (Reuters) – The International Monetary Fund will continue to be supportive of progressive tax reforms in Latin America and the Caribbean while fiscal and monetary policies that…
Suspension of oil exploration in Colombia would be high risk -fiscal paneld
BOGOTA (Reuters) – Income derived from hydrocarbon exploration and production in Colombia is key to the country’s financial stability and its trade balance, its fiscal rule committee said on Monday, and suspension…
Suspension of oil exploration in Colombia would be high risk -fiscal paneld
BOGOTA (Reuters) – Income derived from hydrocarbon exploration and production in Colombia is key to the country’s financial stability and its trade balance, its fiscal rule committee said on Monday, and suspension…
India’s April-Sept fiscal deficit touches $74.91 billion, tax receipts rise
NEW DELHI (Reuters) – India’s federal fiscal deficit in the first half of the financial year through September rose to 6.20 trillion rupees ($74.91 billion) from 5.27 trillion a year earlier, though…
Canada’s fiscal update won’t make central bank’s job harder -sources
By Steve Scherer OTTAWA (Reuters) – Canada’s Liberal-led government will keep its powder dry when it unveils a fiscal update next month, and though it could contain additional targeted spending, it will…
China’s fiscal revenue growth speeds up, but land sales earnings slide
BEIJING (Reuters) – China’s fiscal revenue growth picked up pace in September from a month earlier, according to Reuters calculations based on official data on Tuesday, but declining government land sales revenue…
S&P says improved fiscal outcomes for Australia underpin AAA rating
SYDNEY (Reuters) – Australia’s improved fiscal outcomes from a strong economy and high commodity prices underpin its AAA sovereign rating, S&P Global said on Tuesday, after the new labour government unveiled its…
Fiscal discipline ‘non-negotiable’ if Lula wins Brazil election -running mate
BRASILIA (Reuters) – Fiscal responsibility will not be negotiable if leftist leader Luiz Inacio Lula da Silva wins next Sunday’s presidential runoff vote, Lula’s running mate Geraldo Alckmin said on Monday. Lula,…
IMF says Britain’s U-turn on economic plan signals fiscal discipline
WASHINGTON (Reuters) -The International Monetary Fund on Tuesday applauded the new British finance minister’s decision to scrap most of a proposed debt-financed fiscal package, saying this signaled a commitment to fiscal discipline.…
UK’s Hunt brings forward fiscal announcement to Monday
LONDON (Reuters) – New British finance minister Jeremy Hunt will announce tax and spending measures on Monday, two weeks earlier than previously scheduled, the finance ministry said as Hunt tries to turn…
Analysis – A $1 trillion headache: China’s local fiscal shortfall poses broader growth risks
By Ellen Zhang and Ryan Woo BEIJING (Reuters) – By any account, $1 trillion seems huge. That’s the scale of budget shortfalls facing Chinese provinces, reducing their fiscal firepower to fund infrastructure…
UK’s Truss sacrifices close friend Kwarteng over unloved fiscal plan
By Alistair Smout and Elizabeth Piper LONDON (Reuters) – He was one of her closest friends and supporters, but Prime Minister Liz Truss sacked Britain’s first Black finance minister Kwasi Kwarteng just…
FTSE rallies on hopes of fiscal plan reversal
(Reuters) – UK’s main indexes jumped on Friday, on growing expectations that the UK government will announce a U-turn on elements of its 43-billion-pound package of unfunded tax cuts that sparked turmoil…
UK’s Kwarteng heads home early amid reports of fiscal policy U-turn
By William Schomberg and David Lawder LONDON/WASHINGTON (Reuters) -British finance minister Kwasi Kwarteng cut short his trip to Washington for this week’s global finance minister meetings and has headed back to London…
Fiscal expansion risks forcing ECB into more rate hikes, Kazaks says
WASHINGTON (Reuters) – The European Central Bank should keep raising interest rates quickly, and expansive fiscal policy around the 19-country euro zone is raising the risk the bank will have to tighten…
IMF fiscal chief underscores need for ‘orderly debt restructuring’
By Andrea Shalal WASHINGTON (Reuters) – Rising debt levels and mounting fiscal pressures underscore the urgency for more “orderly debt restructuring” efforts to put low-income countries on a more sustainable path, the…
Explainer-What do Lula and Bolsonaro propose for Brazil fiscal policy?
By Bernardo Caram BRASILIA (Reuters) – Both of Brazil’s presidential candidates, President Jair Bolsonaro and former President Luiz Inacio Lula da Silva, have proposed changes to the constitutional spending limit that defined…
EU eyes multi-year fiscal plans that include investment, reform -Gentiloni
By Jan Strupczewski (Reuters) – The ongoing reform of EU fiscal rules could give governments more leeway in plans that combine debt cuts with investment and reforms, in exchange for greater accountability,…
Explainer-What do Lula and Bolsonaro propose for Brazil fiscal policy?
By Bernardo Caram BRASILIA (Reuters) – Both of Brazil’s presidential candidates, President Jair Bolsonaro and former President Luiz Inacio Lula da Silva, have proposed changes to the constitutional spending limit that defined…
Global recession can be avoided with right fiscal policies -IMF’s Georgieva
By Aziz El Yaakoubi RIYADH (Reuters) – Global recession can be avoided if governments’ fiscal policies were consistent with monetary policy tightening, but likely there would be countries falling into recession next…
Greek economy to grow by 2.1% in 2023 from 5.3% this year – fiscal council report
ATHENS (Reuters) – Greece’s economy is expected to grow by 2.1% in 2023 from 5.3% this year, according to a report by the country’s fiscal council which was published on Monday. The…
Britain’s Kwarteng doubles down on tax cuts, promises fiscal discipline
By Alistair Smout and Elizabeth Piper BIRMINGHAM (Reuters) – British finance minister Kwasi Kwarteng will vow on Monday to stay the course with his planned tax cuts but promised an “iron-clad” commitment…
White House’s Deese, asked about UK economic plans, stresses ‘fiscal prudence’
By Andrea Shalal WASHINGTON (Reuters) -White House economic adviser Brian Deese said on Tuesday he was not surprised by the negative reaction of financial markets to Britain’s fiscal plans and tax cuts,…
Breaking News
