In a new projection from the nonpartisan Congressional Budget Office, the federal budget deficit – the gap between government revenue vs. spending – will be $1.9 trillion for the 2024 fiscal year. Thedeficit forecastis $400 billion higher than the CBO’s last estimate in ...
The International Monetary Fund (IMF) predicts a real GDP growth of 8.8% for 2024, driven by the start of oil and gas production. The budget also emphasizes the importance of strong institutions, peace, and meeting the demands of citizens. The budget deficit is projected to be CFA francs ...
"China's deficit, local government special bonds and ultra-long special treasury bonds are worth 8.96 trillion yuan in total this year, up from 8.68 trillion yuan last year," said Luo Zhiheng, chief economist of Yuekai Securities, adding that the increase of fiscal expenditure is in line with...
The 182-page proposal projected the federal government's spending of 6.9 trillion U.S. dollars throughout fiscal year 2024, starting on Oct. 1, 2023, and ending on Sept. 30, 2024. Biden said his budget plan aims at reducing the deficit by nearly 3 trillion dollars over the next decade ...
In terms of fiscal deficit, Chan expected a consolidated deficit of 101.6 billion Hong Kong dollars for 2023‑24, saying that the city will take a fiscal consolidation strategy in the new financial year. The decision was made upon a full and thorough evaluation, Chan said, adding that it ...
When is it considered good policy for the government to run a budget deficit? Economists debate the merits of running a budget deficit, so there isn't one agreed-upon situation where a deficit is considered good or bad. Generally, a deficit is a byproduct ofexpansionary fiscal policy, which...
It has also planned a 3 percent deficit-to-GDP ratio, which means 4.06 trillion yuan in deficit. The figure is 180 billion yuan more than that projected at the beginning of 2023. This year, a ceiling of 3.9 trillion yuan will be set on new local government special debts, an increase of...
Switzerland: Evolution of the deficit DateDeficit ($M)Deficit (%GDP) 2023 1,765 0.20% 2022 9,869 1.30% 2021 -2,358 -0.30% 2020 -22,344 -3.10% 2019 9,681 1.30% 2018 9,363 1.30% 2017 7,858 1.10% 2016 1,639 0.20% 2015 3,786 0.50% 2014 -1,796 -0.20% 2013 -3,055 -0.40%...
Yet again, the federal government spent far more than it collected in revenue, racking up a budget deficit of $1.8 trillion for fiscal year 2024, according to the Congressional Budget Office. While the deficit is typically a concern during presidential election years, former ...
Budget deficit, % of GDP in 2025 3.3% Increase in overall expenditure for 2025 63.1% Federal Government Debt, % of GDP (as of June 2024) Rakyat Workforce Additional tax deductions of up to 50% for hiring women returning to the workforce, implementing flexible work arrangements and granting pa...