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budget-deficit

Business 5 years ago

The US economy under Trump: By the numbers

The US economy has suffered a brutal blow from COVID-19, forcing businesses nationwide to close their doors, and the damage is apparent in leading economic benchmarks.

Business 5 years ago

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Deficit widens to US$46.3b as govt spending picks up

Tax revenue has fallen by 16.9 percent this year.

Business 5 years ago

Virus spending, lower revenue may weaken Indonesia’s credit quality: Moody’s

The coronavirus-induced economic downturn has sapped tax revenue, spurred government spending and necessitated record amounts of government borrowing.

Business 5 years ago

Indonesia’s budget deficit swells to $22.4b in July as revenue falls

The government collected state revenue of Rp 922.2 trillion, a decrease of 12.4 percent year-on-year (yoy) and about 54 percent of this year’s target.

Business 5 years ago

Italy PM says budget deficit likely to rise further amid pandemic

Italy’s budget deficit, currently projected to reach 10.4 percent of domestic output this year, is likely to expand further as the country tries to prop up the economy amid the coronavirus pandemic, Prime Minister Giuseppe Conte said on Sunday.

Business 5 years ago

Indonesia’s COVID-19 budget changes again: What we know so far

The budget deficit is expected to swell to 6.34 percent of gross domestic product (GDP), an increase from earlier estimates of 6.27 percent in May and 5.01 percent at the end of March.

Business 5 years ago

Indonesia may lose market confidence due to mounting debts: World Bank

The government needs to show a credible path for the economy to unwind “exceptional measures” taken by the government to battle the outbreak, World Bank senior economist for Indonesia Ralph van Doorn said.

Business 5 years ago

Indonesia records first-quarter budget deficit of $4.9b

Indonesia’s state budget deficit fell to Rp 76.4 trillion (US$4.94 billion) in the first quarter of 2020 as revenue grew significantly from a year earlier while spending growth slowed, Finance Ministry data show.

Business 5 years ago

Explainer: Indonesia to finance coronavirus battle mostly through debt

In addressing the widening deficit, the government is resorting primarily to debt as tax revenue is expected to slide with businesses paralyzed and households losing income during the pandemic.