Latest National budgets News

Greece: Bailout lenders agree to scrap 2019 budget cuts

Nov. 15, 2018 2:39 PM EST

THESSALONIKI, Greece (AP) — Greek officials say lenders have agreed to scrap a major round of government funding cuts planned for next year after the country outperformed budget targets set to help protect public finances. Prime Minister Alexis Tsipras said the government received "very positive news from...

Argentine Senate approves austerity budget for IMF deal

Nov. 15, 2018 12:21 PM EST

BUENOS AIRES, Argentina (AP) — Argentine lawmakers approved an austerity budget for 2019 on Thursday, cutting social spending and raising debt payments to meet conditions for expanded financing from the International Monetary Fund. The budget approved Thursday by the Senate projects a 0.5 percent slide in...

Italy faces higher borrowing costs, sanctions on budget

Nov. 14, 2018 10:16 AM EST

MILAN (AP) — Italian borrowing costs nudged higher Wednesday after the populist government resubmitted draft budget proposals without the significant changes sought by the European Commission. A day after receiving the Italian government's submission, the European Union's executive branch said it would...

Italy's doesn't budge in clash with EU over budget deficit

Nov. 13, 2018 5:51 PM EST

MILAN (AP) — Italy's populist government maintained its controversial 2.4 percent budget deficit in responding to EU demands for changes, but made tweaks during a late-night Cabinet meeting Tuesday, including adding plans to sell off some government real estate. Deputy Premier Luigi Di Maio told reporters...

US October budget deficit jumps to $100.5 billion

Nov. 13, 2018 3:05 PM EST

WASHINGTON (AP) — The federal government recorded a deficit of $100.5 billion in October, a big increase from a year ago that was primarily caused by quirks in the calendar. The Treasury Department said Tuesday that the deficit shot up 59 percent from the same month a year ago. Last year's October deficit...

IMF: Mideast oil producers buoyed by higher prices, for now

Nov. 13, 2018 2:49 AM EST

DUBAI, United Arab Emirates (AP) — Higher oil prices are helping to offset increases in public spending by the Middle East's oil exporting heavyweights like Saudi Arabia, with these countries narrowing their budget deficit by $77 billion, the International Monetary Fund said on Tuesday. However, the rosier...

Italian populist leader 'guarantees' nation won't exit euro

Nov. 9, 2018 10:20 AM EST

ROME (AP) — The head of one of Italy's ruling parties insisted Friday that the country won't exit the euro currency bloc nor exceed its targeted deficit limit, dismissing the European Union's worries about the populist government's budget strategy. Deputy Premier Luigi Di Maio, who heads the main party in...

Italy's budget row with EU escalates ahead of deadline

Nov. 8, 2018 10:54 AM EST

MILAN (AP) — The Italian government insisted Thursday it is sticking with its plan to rapidly increase public spending as a dispute with the European Union over the budget intensified following a gloomy set of forecasts. In response to the EU's executive Commission's prediction that Italy will be the...

Economy was key to Brazil win, but will he deliver?

Nov. 6, 2018 1:42 PM EST

SAO PAULO (AP) — Key to Jair Bolsonaro's recent election victory was the support of Brazil's business community, which coalesced around him because he promised to overhaul Latin America's largest economy and address its worrying budget deficit. But the president-elect has been stingy with the details, and...

Italian bank Intesa weathers EU budget storm, profits up

Nov. 6, 2018 9:07 AM EST

MILAN (AP) — Italian bank Intesa SanPaolo on Tuesday reported that its third-quarter profits rose 28 percent, mostly due to accounting changes to reflect the acquisition last year of two failing regional banks. The bank's net income was 833 million euros ($952 million) in the three months ending Sept. 30....