‘Budget has prioritised populism over fiscal prudence’

‘The move towards fiscal consolidation had to be diluted because of the relief to farmers as the government wants to appease the voters.’ Illustration: Dominic Xavier/Rediff.com The interim budget has prioritised populism over fiscal prudence, and the moves to appease voters in general, and the farmers and the middle-class in particular ahead of the elections will boost consumption, economists said. […]

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Budget rules sow discord among Democrats as new Congress set to open

House Democrats are clashing over rules for the new Congress before it even opens, with three members slamming a budget provision they say will hamper their plans for health care and other priorities. The House’s rules package for the Congress that convenes Thursday contains what’s known as a pay-as-you-go provision, which would require new spending to be offset with either […]

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Oman to boost spending modestly in 2019 budget

DUBAI, Jan 1 (Reuters) – Oman’s government expects to increase spending modestly this year under a 2019 state budget released on Tuesday, an official statement said. Spending is projected at 12.9 billion rials ($33.5 billion), up from 12.5 billion rials in the original budget for 2018. Revenues are estimated at 10.1 billion rials, assuming an average oil price of $58 […]

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Trump, Democrats spar over government shutdown with no deal in sight

WASHINGTON (Reuters) – President Donald Trump and top Democrats in Congress sparred over the partial shutdown of the U.S. government on Monday, with no sign of tangible efforts to reopen agencies closed by a political impasse over Trump’s demand for border wall funds. Senate Democratic leader Chuck Schumer and his counterpart in the House of Representatives, Nancy Pelosi, accused Trump […]

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Nova Scotia’s estimated budget surplus sliced as income tax estimates plunge

Nova Scotia’s projected budget surplus is being sliced away by falling income tax revenue and the rising cost of health care and ferry service subsidies. In a fiscal update released today, the province is estimating a surplus of $27.3 million for 2018-19 – $7.2 million less than the estimate provided earlier this fall. READ: Nova Scotia’s 2018 budget projects $29.4M surplus […]

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UPDATE 1-Mexico minister vows tighter budget to send markets 'great signal'

(Adds details, context on next budget) By Michael O’Boyle MEXICO CITY, Dec 12 (Reuters) – Mexico’s new leftist government is aiming to keep a tight rein on its first budget to ensure it retains the confidence of financial markets, the Finance Ministry said on Wednesday, while promising respect for international investment. New finance minister Carlos Urzua is due to present […]

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Congress approves short-term spending bill to avert government shutdown

WASHINGTON (Reuters) – The U.S. Congress on Thursday approved a two-week stopgap spending bill to avert a government shutdown, setting up a potential showdown over President Donald Trump’s proposed border wall later this month. Without action by Congress, funding for several federal agencies, including the Department of Agriculture, State Department and Department of Homeland Security, had been set to expire […]

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