public finance

Britain has little room for business tax cuts, Dutch warn – Reuters – 22/11/2016

Britain's budget deficit and high public debt levels will make it hard for the country to introduce business tax cuts to stem an exodus of corporations from the country after it leaves the European Union, the Dutch finance minister said on Tuesday.

Source:  Reuters, 2016/11/22

By |November 24th, 2016|Categories: News|Tags: , , , |

Mexico’s 2017 Fiscal Budget: Debt Woes Persist – Seeking Alpha – 11/11/2016

Summary - The adoption of a restrictive fiscal policy reduces the (already short) list of positive catalysts for GDP growth next year. - According to IMF data, Mexico's gross debt-to-GDP ratio deteriorated to 54% from 46% in just two years. - In general, the 2017 Fiscal Budget reflects the government's concern over one major topic: [...]

By |November 17th, 2016|Categories: News|Tags: , , , |

UK public debt won’t fall until end of decade after Brexit: IFS – Reuters – 07/11/2016

Britain will only start to lower public debt as a share of GDP at the end of the decade due to a Brexit-related hit to the economy, a think tank said, underscoring finance minister Philip Hammond's challenge as he prepares his first budget statement.

Source:  Reuters, 2016/11/07

By |November 9th, 2016|Categories: News|Tags: , , |

Italy PM Renzi says won’t change 2017 budget plan even if Brussels objects – Reuters – 21/10/2016

Italian Prime Minister Matteo Renzi said on Friday he would not change his 2017 budget plan even if the European Commission says it breaches EU rules on fiscal consolidation.


By |October 27th, 2016|Categories: News|Tags: , , |

GCC economies are responding well to the fiscal reforms: IIF – Gulf News – 20/10/2016

Ratio of Government spending to non-oil GDP to decline from 60 per cent in 2014 to 40 per cent by 2020.

Source:  Gulf News, 2016/10/20

By |October 27th, 2016|Categories: News|Tags: , , , , , , , , |

Sovereign Default and Economic Performance in Oil-Producing Economies – Federal Reserve Bank of St. Louis, Maria A. Arias and Paulina Restrepo-Echavarria – 30/09/2016

Because oil-producing countries do hold public debt and do default, we must understand how oil reserves and production affect risk and economic performance.

Source:  Federal Reserve Bank of St. Louis, Maria A. Arias and Paulina Restrepo-Echavarria, 2016/09/30

By |October 6th, 2016|Categories: News|Tags: , , , , , |

Italy cuts growth outlook, hikes deficit, reverses debt pledge – Reuters – 28/09/2016

taly on Tuesday cut its economic growth forecasts and sharply hiked its target for the 2017 budget deficit for the second time in five months, setting up a potential clash with Brussels. The forecasts will set the framework for the 2017 budget and Prime Minister Matteo Renzi is anxious to avoid unpopular belt tightening measures [...]

By |September 29th, 2016|Categories: News|Tags: , , , , |

Portugal cenbank says ECB bond purchases far from hitting limit

Purchases of Portuguese public debt by the European Central Bank under its quantitative easing programme are nowhere close to reaching any limits and will continue at least until March 2017, the Bank of Portugal said. Portugal's bond yields have spiked to 2-1/2 month highs since the European Central Bank said earlier this month it did [...]

By |September 23rd, 2016|Categories: News|Tags: , , |

S&P upgrades Hungary in surprise gift to PM Orban

After keeping Hungary in junk for years, rating agency Standard and Poor's lifted the country's debt rating back into investment grade on Friday in a surprise move, rewarding Prime Minister Viktor Orban for fixing state finances and boosting the economy. The agency raised Hungary to BBB-/A-3 from BB+/B, citing improving fiscal, external, and growth expectations, [...]

By |September 23rd, 2016|Categories: News|Tags: , , , |

Thailand favours yen bonds over dollar debt

The Thai government now favours yen over dollars for issuing foreign-currency bonds to take advantage of lower borrowing costs amid negative interest rates. The Finance Ministry has studied the possibility of samurai bond sales in case domestic liquidity tightens and coupon rates jump, said Suwit Rojanavanich, director general of the ministry’s Public Debt Management Office. [...]

By |September 23rd, 2016|Categories: News|Tags: , , , , |