Latest National budgets News

Japan aims to boost 5-year defense spending to $318 billion

Dec. 05, 2022 07:49 AM EST

TOKYO (AP) — Japan's Prime Minister Fumio Kishida on Monday set a new target for military spending over the next five years to 43 trillion yen ($318 billion), or 1.5 times the current level, as the country seeks defense buildup including the use of preemptive strike. Defense...

Pentagon chief: US faces pivotal years in countering China

Dec. 03, 2022 15:07 PM EST

SIMI VALLEY, Calif. (AP) — The U.S. is at a pivotal point with China and will need military strength to ensure that American values, not Beijing's, set global norms in the 21st century, Defense Secretary Lloyd Austin said Saturday. Austin’s speech at the Reagan National Defense...

Japan OKs $216B extra budget to counter impact of inflation

Dec. 02, 2022 06:24 AM EST

TOKYO (AP) — Japan’s parliament approved a hefty 29 trillion yen ($216 billion) supplementary budget Friday aimed at countering the blow to household finances from rising food and utility costs and the weaker yen. It is the second batch of supplementary spending this year to...

Italian premier presents economic measures on energy, family

Nov. 22, 2022 07:52 AM EST

ROME (AP) — Italian Premier Giorgia Meloni presented the government’s first economic policy initiatives Tuesday, announcing 21 billion euros in budget tweaks that would be used to help industry and families cope with soaring energy prices, as well as measures to incentivize couples to have more...

Japan panel: Sweeping defense buildup, more cost unavoidable

Nov. 22, 2022 04:48 AM EST

TOKYO (AP) — A Japanese government-commissioned panel said in a report to Prime Minister Fumio Kishida that drastic defense buildup including the use of preemptive strike is “indispensable” to counter growing threats in the region. It called for the public’s understanding to...

Greek economic growth seen lower in 2023 amid energy woes

Nov. 21, 2022 09:43 AM EST

ATHENS, Greece (AP) — Greece’s economy is projected to grow by 1.8% next year, according to the country’s 2023 budget, slightly lower than the figures predicted last month as higher energy costs and inflation take a toll. The final 2023 budget submitted to parliament on Monday...

UN boosts food aid budget to feed a third of Lebanon

Nov. 21, 2022 07:22 AM EST

BEIRUT (AP) — Lebanon's caretaker prime minister and the United Nations World Food Program said Tuesday that it has boosted its food assistance to the struggling nation, effectively feeding one-third of the crisis-hit population. The tiny Mediterranean nation is in the grip of the...

Hungary will not support EU aid plan to Ukraine, Orban says

Nov. 18, 2022 09:26 AM EST

BUDAPEST, Hungary (AP) — Hungary will not support a European Union plan to provide Ukraine with billions in budget assistance next year, Prime Minister Viktor Orban said Friday, digging in on his country's blocking of a major aid package the EU unveiled last week. Speaking at a...

Relief meets fear as UK budget calms economy but brings pain

Nov. 18, 2022 07:24 AM EST

LONDON (AP) — Britain’s Conservative government on Friday defended its decision to hike taxes for millions of working people in the “squeezed middle” class as it tries to shore up an economy battered by double-digit inflation and the reckless tax-cutting of recently ousted Prime Minister...

Lula's push to boost spending in Brazil rattles markets

Nov. 17, 2022 15:40 PM EST

RIO DE JANEIRO (AP) — On the campaign trail, Luiz Inácio Lula da Silva promised to sustain a massive welfare program, increase the minimum wage and boost health and education spending. Now, Brazil's president-elect is trying to make good on those pledges — and investors are showing concern. ...