6 d. ago Algeria Seeks $2.3 Billion in Rare Bond Sale as Deficit Surges

Algeria plans to raise 297 billion dinars ($2.3 billion) from the sale of Islamic bonds, a rare issuance of debt by the OPEC member that’s facing a yawning budget deficit caused by lower energy prices.

Economics

8 d. ago Lorne Gunter: Carney's frugality claims contradicted by bloated federal deficit projection

The day after the House of Commons resumed sitting early this month, Conservative Leader Pierre Poilievre questioned Prime Minister Mark Carney on how large the federal deficit would be this year when the final figure is unveiled in November’s budget. Last year’s deficit turned out to be $61.9 billion when it was finally revealed last […]

Events

1 week ago Ottawa budget watchdog projects $68.5 billion deficit this year as economy slows

PBO projects federal debt to hit $1.65 trillion by 2031 as spending climbs and trade uncertainty slows economic recovery

Economics

1 week ago Budget watchdog forecasts sharp rise in deficit to $68.5B this year

OTTAWA — The parliamentary budget officer says he expects the upcoming fall budget will reveal a sharp increase in Ottawa’s annual deficit to $68.5 billion this year, up from $51.7 billion last year. Interim PBO Jason Jacques also says in a new report that federal debt-to-GDP is no longer on a declining path over the […]

Economics

1 week ago Russia Plans ‘Acceptable’ 2026 Budget Deficit Amid War Spending

Russia plans to run a budget deficit for a fifth year as declining revenue and increased spending continue to put pressure on the government’s finances amid the Kremlin’s war on Ukraine.

Other

1 week ago Nova Scotia deficit projection rises by more than 70 per cent to record $1.2 billion

The figure released today is a jump of $527.9 million from the $697.5-million deficit projected in February's budget.

Economics

2 w. ago Indonesia Seeks to Review Law That Sets Budget Deficit, Debt Cap

Indonesia’s legislative priorities next year will include a law that sets the limits on the nation’s budget deficit and debt levels, according to a list published by parliament on Friday.

Economics

2 w. ago Day of strikes in France challenges new prime minister’s budget plans

PARIS (AP) — Strikes and street demonstrations called by all major trade unions to denounce budget cuts were expected Thursday across France, as new Prime Minister Sebastien Lecornu talks with political opponents about curbing France’s massive deficit and debt. Unions are urging Lecornu to abandon draft budget measures proposed by his predecessor, which include social […]

Politics

2 w. ago With budget season looming, Liberals duck questions on deficit

Interim Parliamentary Budget Officer Jason Jacques said the deficit will "absolutely be higher" on Tuesday

Other

2 w. ago Ontario deficit to explode next year, budget watchdog projects

Ontario's Financial Accountability Officer said falling revenue combined with slower economic growth is expected to 'significantly increase' the province's deficit.

Other

2 w. ago B.C.’s budget deficit $665M higher than forecast, now at $11.6B

B.C. Minister of Finance Brenda Bailey said that despite disruption and uncertainty around global trade at this time, the province's economy remains steady.

Economics

3 w. ago Russia cuts interest rate to 17% as strains show in wartime economy

Russia’s central bank cut its benchmark interest rate Friday by one percentage point to 17%, a step that could support the economy as growth slows and spending on the war against Ukraine increases the budget deficit. The bank had raised its key rate as high as 21% to combat inflation, but has begun to retreat […]

Culture

3 w. ago Uruguay’s Finance Minister Shuns Chainsaw for Modest Tax Hikes

Uruguay’s new left-wing government plans to lower the budget deficit through tax increases early in its term to avoid politically contentious spending cuts or additional levies later on, according to Finance Minister Gabriel Oddone.

Politics