Speaking to reporters in Rome, Padoan said Italy would fund tax cuts promised by Prime Minister Matteo Renzi with a mix of spending cuts, improved economic growth, and by seeking increased budget flexibility from the European Union.
The so-called structural deficit, which calculates the difference between recurring revenues and expenses, will reach $241.3 million by the end of the year, Maragos reported.
“There are so many ways to get a ticket these days,” says Tim Coomer, the vice president for product development at Escort, a company that develops technology to prevent traffic tickets. “Between radar detectors and laser guns and aircraft and red-light cameras, so many municipalities are looking to generate new revenue.”
The numbers of those in temporary employment — whose numbers fell during the crisis partly because of their vulnerability — is on the rise again. In July, the Spanish unemployment roll dropped by 74,000, the best July since 1998. But of the 1.8 million labour contracts that were signed during the month, only 6.9 per cent of the contracts were for permanent positions.
Negative interest rates have created excess demand for property as an investment, the Zurich-based bank said, which brings the housing market back into focus for the Swiss National Bank (SNB).
But with a new refinancing cycle set to kick off in earnest in 2018, Moody’s has warned the guidelines could make it more difficult to refinance the $90bn of loans due in that year alone.
The national debt. It’s well over $18 trillion, and that’s only the current value and growing exponentially. The Congressional Budget Office has calculated the present value of our unfunded obligations — such as commitments to Social Security, Medicare, Medicaid, SNAP, CHIP, government pensions, etc. — total somewhere between $47 trillion and $205 trillion. These are patiently waiting their turn to show up in the national debt.
Indian consumer sentiment lowest since March: MNI Indicator
China Securities Finance Corp, the state margin lender tasked with stabilizing the stock market, has injected 200 billion yuan ($32.21 billion) since July into five newly-launched mutual funds, the official China Securities Journal reported on Tuesday.
The California Public Employees Retirement System, a $303 billion fund that provides benefits to 1.72 million people, owned a $91.8 million slice of Pioneer Natural Resources Co. in June 2014. At the time, Pioneer was a $33 billion company and one of the biggest shale producers in Texas. Today, Pioneer is worth $19 billion and Calpers’ stake has lost about $40 million in market value.
Japan’s monetary base stood at a record-high 325.74 trillion yen ($2.63 trillion) at the end of July, up 33.9 percent from a year earlier, as the Bank of Japan continued to provide more liquidity to raise the inflation rate to its targeted 2 percent, BOJ data showed Tuesday. The monetary base reached an all-time high for the 12th straight month. The central bank took additional monetary easing steps last October to raise the pace of supplying funds.
State-owned policy banks will issue at least 1 trillion yuan ($161 billion) of special bonds to help raise funds for infrastructure construction, according to people familiar with the matter. That will add to about 2.8 trillion yuan of municipal debt sold this year.
The OECD’s figures indicate that a wave of fresh stimulus measures enacted by central banks around the world since late last year has yet to achieve its main goal–minimizing the risk of a slide into deflation. Very low inflation rates make economies vulnerable to a slide into deflation, an outcome that policy makers regard as unlikely, but highly damaging should it occur.
After months of monetary easing, China’s economy is still growing at its slowest pace in 25 years with little sign of an immediate turnaround. That spells more stimulus from policy makers, and unlike many of its peers, China holds significant firepower that it could unleash to boost the world’s second-largest economy.
China’s central bank promised to “stabilize financial market expectations” on Tuesday, saying it will head off risks in the latest show of official resolve to keep the economy on an even keel.
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