The US government’s budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years as President Donald Trump’s tax cuts caused the government to borrow more heavily in order to cover its spending.
The IMF’s top official on Europe has issued a new warning to Italy’s government over its budget plans, saying it should be shrinking the country’s deficit in accordance with EU rules rather than expanding it.
The European Union on Friday issued a stern warning to Italy's populist leaders following their defiant pledge to increase spending and run a budget deficit that risks putting Rome on a collision course with Brussels.
Japanese government ministries and agencies' budget requests for fiscal 2019 hit a record high of 102.5 trillion yen ($923 billion), officials said, as the nation grapples to finance ballooning social welfare costs and defense spending.
French President Emmanuel Macron’s government is to cut its social welfare spending, including its housing, family, and pension benefits, in the next fiscal year’s budget as part of controversial reforms that have made him unprecedentedly unpopular among the French people.
Italy’s coalition government will introduce a raft of structural reforms this autumn, Prime Minister Giuseppe Conte said, reiterating that the 2019 budget would be “serious, rigorous and also courageous.”
Government Spokesman and Head of Plan and Budget Organization Mohammad-Baqer Nobakht said that President Rouhani ordered the responsible officials of the country for generating more than one million employment opportunities in 1397 (started March 21, 2018).
An assessment of the Iranian government's financial condition during March 21-December 20, 2017, shows that although the Rouhani administration has failed to acquire more than $8.1 billion in pr+edicted monetary resources, its figures are not indicative of a budget deficit.