Latest news with #fiscaldeficit
Bloomberg
4 hours ago
- Business
- Bloomberg
Romanian President to Name Premier as Fiscal Deal Reached
Romania's president plans to designate Liberal Party leader Ilie Bolojan as prime minister after negotiators reached an agreement to form a new government to tackle the country's fiscal deficit. The currency rebounded. President Nicusor Dan will make the appointment at 3 p.m. in Bucharest on Friday, according to people familiar with the plans, who declined to be identified as talks take place behind closed doors. That indicated progress after Romanian party leaders had hit a last-minute snag over fiscal measures.
Bloomberg
4 hours ago
- Business
- Bloomberg
Romanian President to Designate Bolojan as Premier
Romania's president plans to designate Liberal Party leader Ilie Bolojan as prime minister on Friday after negotiators reached an agreement to form a new government to tackle the country's fiscal deficit. President Nicusor Dan will make the designation at 3 p.m. in Bucharest, according to people familiar with the plans, who declined to be identified as talks take place behind closed doors. Romanian leaders had hit a last-minute snag in talks to form a new coalition.
Free Malaysia Today
10 hours ago
- Business
- Free Malaysia Today
Debt reduction key to investor confidence, says Anwar
Putrajaya brought the deficit down from 5.5% in 2022 to 5% in 2023, and 4.1% last year. PETALING JAYA : Prime Minister Anwar Ibrahim today reiterated the government's commitment to gradually reducing the national debt while ensuring continued development and investor confidence. Speaking at the finance ministry's monthly assembly in Putrajaya, Anwar said continuous efforts had been made since 2022 to bring down the country's fiscal deficit from 5.5% to the latest projection of 3.8% this year. 'Some people ask why we are so focused on reducing it. They say we should just give more to the people. But without this effort, there will be no (investor) confidence,' he said. Anwar, who is also finance minister, added that investor confidence would translate to investments, which could help raise the national revenue, provide job opportunities, and contribute to the nation's overall development. Putrajaya brought the deficit down from 5.5% in 2022 to 5% in 2023, and 4.1% last year. The Treasury had said this would slow the growth of the national debt with a drop in new government borrowings each year, from nearly RM100 billion in 2022 to RM92.6 billion in 2023, and around RM77 billion last year. Anwar also dismissed claims that the government's debt reduction efforts had compromised public welfare, saying the approach should be seen as a long-term strategy. 'Since we took over, the debt has been reduced by RM20 billion. 'It's like someone inheriting a company after his father passes away. The company owes RM50,000. The son can't be expected to settle the debt in a year – it has to be done in stages,' he said.
Malay Mail
12 hours ago
- Business
- Malay Mail
Malaysia trims deficit to 4.1pc, aims lower as Anwar eyes investor trust, stronger economy
PUTRAJAYA, June 20 — Prime Minister Datuk Seri Anwar Ibrahim said the government is committed to consistently reducing the country's fiscal deficit to ensure a more sustainable economy and to maintain investor confidence. Anwar, who is also the Finance Minister, said the fiscal deficit was at 5.5 per cent when he assumed leadership in 2022. It was reduced to 4.1 per cent in 2024, with a projection of 3.8 per cent for this year. 'Some people ask why we want to reduce the deficit so much. Why not just give more to the people? But if we don't do it this way, investor confidence will not be there. 'For me, the foremost responsibility of leadership and economic management is to implement policies that we believe are good — that is what matters most. 'Secondly, with investor confidence, we can solve many issues related to national revenue, job opportunities, and overall development,' he said at the Finance Ministry's monthly assembly here today. — Bernama
Zawya
2 days ago
- Business
- Zawya
Jordan reports surge in project spending
Jordan sharply boosted spending on projects in the first four months of 2025 after an increase in revenues, according to the Finance Ministry. The increase boosted overall spending by nearly eight percent to widen the country's fiscal deficit to around 469 million Jordan dinars ($656 million) in the first four months of this year against JOD345 million ($483 million) in the same period of 2024. Revenues grew by about six percent to JOD3,307 million ($4.6 billion) from nearly JOD3,114 million ($$4.3 billion) in the same period, the Ministry said in a report. Actual expenditure rose by around eight percent to JOD3,798 million ($5.3 billion) from about JOD3,520 million ($$4.9 billion) during that period, the report said. The rise followed a surge in capital expenditure of around 34 percent or by around JOD83 million ($116 million) and six percent growth in current spending. (Writing by Nadim Kawach; Editing by Anoop Menon) (
