Sentences with phrase «current year deficit»

Not exact matches

Government debt and deficits are going to explode over the next 30 years if current laws remain in place.

On the data front, fourth - quarter current account figures showed the deficit fell, hitting its lowest level in more than a year, as an increase in the primary income surplus offset a soybean - driven drop in exports.

Let's start with the U.S., a country which might need this year some $ 500 billion of foreign savings to finance its expected current account deficit.

The bill can not increase total deficits in the years beyond the CBO's 10 - year budget window, over and above the forecasts under current law.

Deficits will probably reach $ 1 trillion in the current or next fiscal year, almost double what the Congressional Budget Office had projected less than a year ago for 2018.

This step moved future costs into the current year, giving the latter a larger deficit for the sake of downsizing future deficits.

The deficit for the current fiscal year that ends in two weeks is projected to be $ 25.9 billion — exactly as forecast in the fall fiscal update but up significantly from the $ 21.1 billion posited by Flaherty in last March's budget.

If current laws remained generally unchanged, the United States would face steadily increasing federal budget deficits and debt over the next 30 years — reaching the highest level of debt relative to GDP ever experienced in this country.

Twin Deficits, Twenty Years Later, Federal Reserve Bank of New York Current Issues in Economics and Finance, 12, no. 7 (October).

If you look back over the past 20 years, you will see that the Australian current account deficit has fluctuated between about 3 1/2 per cent and 6 1/2 per cent of GDP.

And that means that the government that once vowed never to put the country into deficit will, if current projections hold, spend a short seven consecutive years in the red.

However, it should be noted the EI Account is forecast to generate an annual surplus of about $ 4 billion in 2015 - 16), as current legislation requires that premium rates be kept high to compensate for previous years» deficits in the Account.

Given the current deficit in the EI Account and the new proposed annual change limit, the only option the CEIFB has is to recommend annual changes of 10 cents for at least the next five years if not longer.

Such counsel flouts the current policy stance of the federal Conservative government, which is to eliminate the budget deficit next year.

The impact of higher oil prices on the country's current account deficit and inflation rate, the Indian banking system's struggles with demonetization, scandals, bad loans and a government looking ahead to next year's general election have all taken a toll on investor sentiment.

Under current law, stabilizing the debt at its current post-World War II record level of 77 percent of GDP would require deficit reduction of 2.4 percent of GDP per year over three decades (the equivalent of $ 6.1 trillion over ten years).

However, under current legislation, once the cumulated deficit in the Account has been eliminated, EI premium rates will need to be reduced by a maximum of 10 cents per year.

Over the last 10 years, the U.S. current account deficit has been cut roughly in half, and a large part of that improvement has been a function of surging U.S. domestic oil production.

However, it's estimated that it will only generate $ 8.7 billion over 10 years, which equates to 0.18 % of the current budget deficit.

The widening in the current account deficit that we expect in 1998/99 will be the fifth such cyclical widening in the past 20 years, and I think that people now accept this as a part of our economic cycle.

Correspondingly, the current account deficit has also widened over the past couple of years, although the deficit for the September quarter, at around 6 per cent of GDP (assuming that the net income deficit remains constant as a share of GDP), is likely to have been smaller than in the previous quarter.

For the first three months of the current 2016 - 17 fiscal year, the federal government posted a deficit of $ 995 million, compared to a surplus of $ 5.0 billion in the same period in 2015 - 16.

In contrast to other movements in the current account deficit during recent years, which were mainly the result of fluctuations in Australia's trade balance, the most recent increase largely reflected rising payments on Australia's stock of net foreign liabilities — the net income deficit (Graph C1).

That is a tough balancing act for a country that relies on foreign capital to finance its current account deficit - which has doubled to $ 55 billion over the last few years, according to Citigroup - but where the government says three in five children are stunted from malnutrition.

In fact, the US current account deficit has been relatively easily financed despite it continuing for fifteen years and reaching 6 per cent of GDP.

«The thing that always worries me about Australia is that it runs a current account deficit, and that is even after god knows how many years of the most awesome commodity price increases you have ever seen,» Mr Buckland told The Australian Financial Review.

«The governor was extraordinarily gracious, saying that he not only would make sure that the current shortfall is covered, but would also identify another $ 9 billion and set it aside for the deficit next year.

In other words, we have a better than 50pc chance of eliminating the structural current deficit in five years» time — that part of our borrowing that doesn't recover automatically as the economy grows.

In the first four months of the current fiscal year the deficit widened to # 44.9 billion compared to # 35.6 billion in the same period last year.

Current debates about the economic situation in Spain, for example, are centred on the country's need to reduce its budget deficit to 5.3 % of GDP, as agreed this year with European partners in Brussels.

The Executive Budget, at $ 134 billion, proposes to close a $ 7.4 billion gap between projected spending and revenues, including a $ 500 million deficit carried forward from the current Fiscal Year.

The budget deficit for the current fiscal year had grown to $ 350 million dollars, and the projected gap for the new fiscal year would be a $ 3.5 billion dollar hole, if spending were to take place as planned.

These include: For decades now, year - on - year federal budget deficits have resulted in an out - of - control federal debt load, which represents a clear and substantial danger to current and long - term viability and stability of our Republic.

The state faces a $ 350 million deficit in the current 2011 - 12 fiscal year and a gap as high as $ 3.5 billion in the coming 2012 - 13 fiscal year, which begins April 1.

But the state faces a deficit for the coming fiscal year that is as high as $ 3.5 billion and a current - year gap of $ 350 million.

Yet when we look at the Executive Budget, we see that he as included over $ 800 million in new taxes and assessments on health care and health insurance, including $ 590 million within the Deficit Reduction Plan for the current fiscal year.

For decades now, year - on - year federal budget deficits have resulted in an out - of - control federal debt load, which represents a clear and substantial danger to current and long - term viability and stability of our Republic.

Current projections show the state on average faces potential budget deficits of less than $ 5 billion annually over the next three fiscal years starting in 2017 - 18, which begins April 1.

As state legislators grapple with how to close a more than $ 2 billion deficit for next year, they are now facing budget troubles in the current year.

Double digit current account deficits for two years in a row, and, most probably, three years in a row, since the pointers are in that direction for 2014; 5.

• The structural current deficit should be in balance in the final year of the five - year forecast period — 2015 - 16.

Besides a small deficit in the current fiscal year, the new year that begins July 1 is projected to be about $ 500 million in the red.

Connecticut Comptroller Kevin Lembo is projecting a $ 7 million deficit in the state's 2 - year, $ 40 billion budget when the current fiscal year ends in June.

With low net international reserves, a double digit fiscal deficit, double digit current account deficit, and double digit inflation, Ghana may have to pay a very high interest rate, possibly, a double digit interest rate, for any sovereign bond issued this year.

Whenever the next update comes out, it probably will show a worsening FY 2018 budget gap, and perhaps even a true potential deficit for the current year — depending on whether Cuomo forces a post-election special session based on his power to cut spending in the wake of big enough drops in federal revenue.

The Personal Income Tax (PIT) actions taken by the governor and the Legislature this month should reduce projected deficits in the near - term, but balancing next year's budget will again be a struggle, and current conditions add risk to the upcoming state budget.»

According to state Comptroller Tom DiNapoli's office, the current - year budget deficit is a lot bigger than the $ 350 million estimated by Gov. David Paterson's Budget Division, and is likely closer to $ 1 billion.

The budget is projected to be more than $ 200 million in deficit for the current fiscal year that ends on June 30.

ALBANY, NY (11/23/2010)(readMedia)-- Governor David A. Paterson today announced the agenda for the extraordinary session of the Legislature, on Monday, November 29 at 3:00 p.m. Governor Paterson called for special session to address the $ 315 million current - year deficit and additional legislation that was not completed at the end of regular session.

County economic difficulties from last year, and deficit budgeting for this current year, have not simply disappeared.