US budget gap soars to $1.7 trillion
- 21-Oct-2023
The U.S. government on Friday posted a $1.695 trillion budget deficit in fiscal 2023, a 23% jump from the prior year as revenues fell and outlays for Social Security, Medicare and record-high interest costs on the federal debt rose. The Treasury Department said the deficit was the largest since a COVID-fueled $2.78 trillion gap in […]
Budget deficit soars by 54% from July-September – report
- 04-Nov-2022
Pakistan’s budget deficit in the first three months of the fiscal year 2022-23 has alarmingly soared to Rs 808 billion, which is 54% higher than the corresponding months last year, ARY News reported. The budget deficit in July-September last year was Rs 438 billion. According to a report issued by the Ministry of Finance, Pakistan’s […]
Budget deficit likely to swell by Rs3,797 billion in FY2022-23: sources
- 19-Sep-2022
ISLAMABAD: Amid damages caused by floods in Pakistan, the budget deficit is likely to swell by Rs3,797 billion in the current fiscal year of 2022-23, ARY News reported, quoting sources within the finance ministry. The provinces will not be able to Rs750 billion surplus to the federal government as per the IMF condition, this year […]
Country’s budget deficit soars to Rs484bn
- 05-Nov-2020
The country's budget deficit soared to Rs 484 billion during the first quarter of the current financial year.
Saudi projects higher 2020 budget deficit, cuts spending
- 10-Dec-2019
The statement released following a cabinet meeting chaired by King Salman said Riyadh would also cut spending for next year in a rare belt-tightening measure.
Govt to present ‘mini budget’ in NA today
- 18-Sep-2018
ISLAMABAD: After the approval from the federal cabinet, government is all set to present its first ‘mini budget’ Tuesday (today) in the National Assembly. According to sources, it is expected that new taxes, including super tax, worth Rs 158 billion will be imposed in the new finance bill. The bill includes the recommendations to slash […]
Saudi budget deficit halves after reforms, oil rebound
- 13-Aug-2017
RIYADH: Saudi Arabia’s budget deficit halved in the first six months of this year, the finance ministry said on Sunday, following sweeping spending cuts and a stabilisation in oil prices. The ultra-conservative kingdom has moved to diversify its traditionally oil-dependent economy following a sharp fall in crude prices. The budget deficit dropped by 51 percent […]
Saudi plans up to $17.5 bn in first bond issue: Bloomberg
- 19-Oct-2016
RIYADH: Saudi Arabia plans to raise up to $17.5 billion from its first international bond issue, Bloomberg News reported on Wednesday, as analysts expect strong buyer interest. It would make the Saudi issue the largest ever from an emerging-market nation, said Bloomberg News, which cited two people with knowledge of the offer. The figure exceeds […]
Pakistan’s budget deficit has decreased, says Dar
- 22-May-2016
ISLAMABAD: Federal Minister for Finance Ishaq Dar has said that no one will be allowed to use their political influence for getting their loans waived off, ARY News reported.