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Posts tagged "deficit"

Asad Umar never said the dollar will touch Rs160

He said they’re controlling the current account deficit

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April 5, 2019


Chinese banks lent Pakistan $2.2b in the last financial year

More than 60% of the money Pakistan borrowed last year was meant to keep the country’s foreign exchange reserves high enough to avoid bankruptcy

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August 30, 2018


Pakistan seeks economic lifeline with fresh China loans

Pakistan expects to obtain fresh Chinese loans worth $1-2 billion to help it avert a balance of payments crisis, Pakistani government sources said, in another sign of Islamabad’s growing reliance on Beijing for financial support. Lending to Pakistan by China and its banks is on track to hit $5 billion in the fiscal year ending…

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May 26, 2018


Govt brings down fiscal deficit from 8.8% to 5%: Dar

ISLAMABAD: Minister for Finance, Senator Mohammad Ishaq Dar on Friday said the government managed to reduce the fiscal deficit from 8.8 percent in 2013 to 5 percent by increasing revenues and reducing expenditures. Winding up speech on charged expenditures here at National Assembly, Ishaq Dar expressed the hope that the 4.3 percent target of fiscal…

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June 19, 2015


Balochistan govt unveils Rs 243bn deficit budget

QUETTA: Balochistan budget for the next financial year with a total outlay of Rs 243 billion was presented in the provincial assembly in Quetta on Wednesday.   Presenting the budget, Adviser to the Chief Minister Balochistan on finance Mir Khalid Khan Langove said the deficit of the budget is estimated at Rs 26 billion. He…

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June 17, 2015


Trade deficit widens to $19.735bn in 11 months

KARACHI: Pakistan's trade deficit widened by 11.73 percent to $19.735 billion for the July 2014 to May 2015 period, compared with a deficit of $17.663 billion for the same period last year, according to the Pakistan Bureau of Statistics. Exports declined to $21.875 billion in the eleven month period from $23.092 billion the previous year….

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June 16, 2015


Saudi to post massive budget deficit: IMF

RIYADH: OPEC kingpin Saudi Arabia is forecast to post a budget deficit of 20 percent of gross domestic product because of the sharp decline in oil revenues, the IMF said Tuesday. “Government spending in 2015 is expected to remain strong, partly due to a number of one-off factors, while oil revenues have declined,” an International…

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June 2, 2015


Dollar softens in Asian trade as US trade deficit widens

SINGAPORE: The dollar weakened against the euro in Asia Wednesday after data showed the US trade deficit ballooned to a six-year high in March. Analysts said the yawning trade gap had raised questions about the outlook for an increase in US interest rates, a move that would be supportive of the greenback. The euro bought $1.1233…

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May 6, 2015


Saudi projects big deficit in 2015 after oil price drop

RIYADH: Saudi Arabia, the world's largest crude exporter, on Thursday announced a 2015 budget with a huge $38.6 billion deficit due to the sharp decline in oil prices but still raised spending. A statement read on state-run television after a cabinet session said spending for 2015 is projected at 860 billion riyals ($229.3 billion) and…

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December 25, 2014


Balochistan pulls curtain on Rs215bn deficit budget

QUETTA: The coalition government of Balochistan Thursday evening pulled the curtain on Rs 215.713 billion deficit budget for financial year 2014-15, Samaa reported. Speaker Balochistan Assembly, Mir Jan Muhammad Jamali chaired the budget session. Advisor to Chief Minister of Finance, Mir Khalid Langove presented the budget with a deficit of Rs15.662 billion. PSDP Rs50.742 billion…

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June 19, 2014


British budget deficit and retail data offer rare positive news

LONDON: Britain had a far smaller-than-expected deficit in February and retail sales got a boost, data showed on Thursday, a fillip for Chancellor George Osborne a day after he released dismal economic forecasts.Deficit reduction is the central economic policy of Britain's Conservative-led coalition government, which came to power in May 2010 when Britain's budget deficit…

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March 21, 2013


Obama makes little headway with Republicans over deficit

WASHINGTON: President Barack Obama met with his toughest critics in Washington – House of Representatives Republicans – and made little headway in convincing them to accept his demand for tax increases as part of a deficit-reduction deal.”If the president wants to let our unwillingness to raise taxes get in the way, then we're not going…

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March 14, 2013


Britain's Cameron says no turning back on deficit reduction plan

LONDON: British Prime Minister David Cameron will promise on Thursday to stick to his government's deficit reduction plan despite the loss of his country's top-notch AAA credit rating, saying Britain would plunge “back into the abyss” if he changed course.Speaking ahead of a March 20 budget that will be dissected by the markets and ratings…

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March 7, 2013


India likely to meet fiscal deficit target of 5.3 pc

NEW DELHI: India is likely to hit a fiscal deficit target of 5.3 percent of GDP this year despite a significant shortfall in revenue, a government report said on Wednesday, a day before the budget, but it conceded economic growth would be a sluggish 5 percent.The annual report on challenges facing the economy was prepared…

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February 27, 2013


Indian rupee gains; U.S. budget talks, current account deficit in focus

MUMBAI: The rupee rose on Friday to post a 0.6 percent gain for the week, helped by a strong month of foreign inflows, although sentiment remained cautious ahead of domestic current account data and the continuing negotiations over the U.S. “fiscal cliff.”Data due on Monday may show the country's current account deficit soared to a…

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December 28, 2012


India sees deficit challenge due to subsidies, stake sales

NEW DELHI: India said uncertainty over stake sales in state-run companies and soaring subsidies pose a challenge to reducing the fiscal deficit, which is the widest among big emerging economies and has put in peril the country's investment grade credit rating.In a mid-year economic review presented in parliament on Monday, the government also pared its…

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December 17, 2012


Australia trade deficit widest since early 2008

SYDNEY: Australia's trade deficit yawned out to its widest in four-and-a-half years in October as imports rebounded while exports stayed flat, highlighting the pain a declining terms of trade is inflicting on the resource-rich nation.Thursday's figures from the Australian Bureau of Statistics showed the deficit on goods and services grew to A$2.1 billion ($2.2 billion)…

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December 7, 2012


India's deficit-cutting plan faltering as clock ticks

NEW DELHI: Finance Minister P. Chidambaram has banned government officials from holding conferences at five-star hotels, restricted travel and ordered a freeze on hiring to fill vacant posts.A single-minded political veteran who commands both fear and respect in officialdom, Chidambaram is squeezing government ministries hard to cut spending wherever they can, and quickly, to help…

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November 26, 2012


Indian govt struggles to meet new deficit target: officials

NEW DELHI: India will struggle to meet its already swollen deficit target this year after a dismal response to this week's 2G auction and a battle to sell stakes in state companies, finance ministry officials privately concede.Global rating agencies have threatened to downgrade India's sovereign credit rating to junk if it fails to put its…

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November 16, 2012


White House lists leaders to meet with Obama on deficit

WASHINGTON: Two dozen business, labor and civic leaders, including the chief executives of major U.S. corporations such as Ford, IBM and Wal-Mart, will meet President Barack Obama to discuss how to control the federal deficit, said the White House on Monday.Obama was scheduled to meet labor and civic leaders on Tuesday, followed by a meeting…

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November 13, 2012


Canada says 'close' to eliminating deficit on schedule

MEXICO CITY: Canada will report within two weeks that it is “close” to meeting its target of eliminating the budget deficit in 2015-16, Finance Minister Jim Flaherty said on Sunday, suggesting Ottawa may still be a few billion dollars in the red at that time.Canada ran a fiscal surplus for over a decade prior to…

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November 5, 2012

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