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...While deficits are typical in a country that has not balanced its budget in decades, an unforeseen shortfall of €21bn in tax revenue left the eurozone’s second-largest economy on a degraded deficit and debt...
...— but if numbers started to fall between 13 and 18 per cent then four-fifths would be in deficit....
...This story has been corrected to specify that the deficit widened to 5.5 per cent...
...The country’s overall trade deficit narrowed to ¥379.4bn ($2.5bn), down 59 per cent from the same period last year and narrowing substantially from the January deficit of ¥1.76tn....
...The rating agency highlighted a rising government deficit in the US, estimating that it reached 8.8 per cent of gross domestic product in 2023, up from 3.7 per cent in the prior year....
...Saudi Arabia has posted a budget deficit for last year, as its income from oil sales was hit by Opec member production cuts and lower prices....
...But the IMF said the US had exhibited “remarkably large fiscal slippages”, with the fiscal deficit hitting 8.8 per cent of GDP last year — more than double the 4.1 per cent deficit figure recorded for 2022...
...The west’s energy watchdog has predicted that Opec+ members will keep their voluntary production cuts for the whole of 2024, generating a “slight deficit” in oil compared with its previous forecast of a...
...That has left the eurozone’s second-largest economy on a much degraded trajectory on deficits and debt and trailing nearly all other eurozone countries that have brought down deficits more quickly....
...The strong figures will come as a relief to policymakers who are seeking to narrow the country’s yawning current account deficit....
...The Congressional Budget Office on Wednesday said government repayments to holders of the US’s debt would account for about three-quarters of the rise in the deficit between now and 2034....
...The fund said in its Fiscal Monitor report that it expected the US to record a deficit of 7.1 per cent next year — more than three times the average for other advanced economies....
...The US Treasury department has announced that it will conduct its largest-ever debt auctions in the coming three months, an effort to fill a wide federal budget deficit....
...Despite ballooning Superbonus costs that have previously caused the government to overshoot its deficit targets, Rome stuck to its prediction for the fiscal deficit to fall to 4.3 per cent of GDP this year...
...The government responded with efforts to reduce the deficit....
...The International Energy Agency said the oil market would be in a “slight deficit” this year, as it reduced its forecast for global supply growth to 800,000 barrels a day, from 1.7mn in its February report...
...The missed target puts further pressure on President Emmanuel Macron’s government to bring its deficit back in line with the EU target of 3 per cent of national output by 2027....
No proposal in isolation for the index can bring the quick fix that City reformers desire
...The Congressional Budget Office said on Wednesday that interest payments on US government debt would account for about three-quarters of the rise in the deficit between now and 2034....
...The federal deficit stood at $1.7tn last year....
...The pension deficit of British telecommunications giant BT has more than halved as market conditions and falls in life expectancy improved its funding position....
...Asked whether Wilko’s ultimate owner, Amalgamated Holdings Wilkinson, had resources to plug the pension deficit, the granddaughter of the company’s founder replied: “No, they are tied up in other things...
...This showed, on average, there was a fiscal deficit of 3 per cent of gross domestic product in all years without exception. Regardless of the economic cycle, IMF members showed a clear deficit bias....
...Turkey’s trade deficit narrowed in September to the lowest level in two years in an early indication of how the government’s attempt to reduce imports is bearing fruit....
...Rising deficits driven by interest expense, rather than a widening primary deficit, are less stimulative....
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