China’s central bank said it would cut the reserve requirement for the second time this year to help support economic recovery. The government has also rolled out a series of policy measures in recent months.—cnbc.com
Tag: Federal budget
Federal Budget Deficit Expected to Nearly Double
The nation’s fiscal imbalance remains a concern. The federal budget deficit is expected to balloon to about $2 trillion for fiscal year 2023. Though budget deficits typically shrink when the economy is growing, the current deficit is high although the economy is strong.—cnn.com
The Federal Deficit Nearly Tripled
The federal government's deficit nearly tripled in the first nine months of the fiscal year. Tax revenues decreased by 11% and government spending jumped 10%. Interest payments reached $652 billion—25% more than during the same period a year ago. The deficit adds to an already large federal debt.—npr.org
Government Debt in Advanced Economies Slowing Economic Growth
World Bank President David Malpass says the debt-to-GDP ratios of the advanced economies are higher than ever before and must be lowered to restore a stable environment and the return of economic growth.—cnbc.com
Russia Swings to $29 bln First-Quarter Budget Deficit
Russia's federal budget balance sank to a deficit of 2.4 trillion roubles ($29 billion) in the first quarter of 2023. Spending accelerated 34% in the quarter to 8.1 trillion roubles. In the same quarter of 2022, Russia posted a surplus of 1.13 trillion roubles.—reuters.com