Latest news with #fiscalplanning
BreakingNews.ie
16-07-2025
- Business
- BreakingNews.ie
Tariff uncertainty ‘problematic' for fiscal planning, Taoiseach says
Uncertainty around tariffs is 'problematic' for budget preparations and medium-term fiscal planning, the Taoiseach has said. US president Donald Trump has said that he will implement a 30 per cent tariff on EU goods from August 1st if a new trading deal with the bloc is not agreed by that deadline. Advertisement Mr Trump has also threatened to ramp up tariffs on pharmaceuticals from the end of the month, raising concerns on a key sector for the Irish economy. Negotiations between the US and the EU continue as the Government prepares to announce its Summer Economic Statement next week. The Government is also due to provide an update on its five-year fiscal stability plan to the EU. Speaking to reporters on Wednesday, Mr Martin said: 'We're keeping everything under review, but in context of this year, we have fair ideas to where revenue will land and where expenditure will land. Advertisement 'But certainly we're waiting in terms of the midterm framework, the five year programme that has to be submitted to Europe, it is problematic. 'We can't abolish the Budgetary process, we still have to go and prepare the budget, and we have to prepare estimates, and there has to be negotiations and so on. 'And there are very significant downside risks given what's happening and in terms of the tariff threat. 'Potentially, if we've got it resolved it could be an upside, we'll have to wait and see.' Advertisement He added: 'There are real issues in endeavouring to project into the future but we do have capital at our disposal. 'We do need to transform our infrastructure. 'We do need to put sufficiency of money aside for water and for housing and for energy.'
CBC
19-06-2025
- Business
- CBC
Deficit to be $4.3B smaller than predicted, but spending plans remain obscure: budget report
Social Sharing The Parliamentary Budget Officer (PBO) says the deficit will be smaller than predicted but the Liberal government's lack of clarity on fiscal planning has left Yves Giroux's office unable to determine if the government's spending plans are sustainable. The Economic and Fiscal Monitor released by Giroux's office Thursday morning says that the deficit for 2024-25 will be $46 billion — $4.3 billion lower than it had predicted during the election and $2.3 billion lower than was estimated in the fall economic statement. "The revision to our estimated deficit reflects a $5.2-billion increase in our estimate for revenues in 2024-25, somewhat offset by a $1-billion increase in our estimate for expenses," the report said. The PBO said that while it predicted the Canadian economy would only grow by 1.8 per cent in the fourth quarter of 2024 and 1.6 per cent in the first three months of the year, real gross domestic product actually grew at an annualized rate of 2.1 per cent and 2.2 per cent. The report said the improved fiscal position of the federal government can be explained by stronger than expected corporate income tax revenues and the money collected from Canada's counter-tariffs on U.S. goods. Improved growth in the first three months of the year, Giroux's office said, can be partly explained by companies rushing to buy inventory before tariffs were imposed. The PBO is predicting that real GDP growth in the second quarter of 2025 will likely remain flat, with an expected decline in exports acting as a drag on the economy. "Business investment is also expected to remain subdued due to elevated uncertainty," the report said. Fiscal sustainability During the election campaign, Prime Minister Mark Carney announced his plan to separate "operational spending" — the day-to-day running of government programs and departments — from "capital spending," which is anything that builds an asset the government holds. The Liberal platform pledged that it would cut the growth of government spending from nine to two per cent by eliminating waste, duplication and deploying technology to balance operational spending by 2028. But the PBO says the Liberal government has complicated its ability to track that fiscal anchor by not fully explaining how it will define operating and capital spending. "Hence the PBO is unable to assess whether the Government's recent fiscal policy initiatives presented in Parliament … are consistent with achieving its new fiscal objective," the report said. Because of the lack of clarity, the government's spending plans could be fiscally unsustainable, Giroux's office said. "Parliamentarians may wish to seek additional clarity regarding how the government plans to measure its fiscal anchor and how it will ensure federal finances remain sustainable.
Zawya
26-05-2025
- Business
- Zawya
Saudi Arabia completes $16.10bln debt buyback, issues $16.08bln in new sukuk
RIYADH — Saudi Arabia's National Debt Management Center (NDMC) has completed an early buyback of government debt maturing between 2025 and 2029, with a total value of approximately SR60.4 billion, while simultaneously issuing SR60.3 billion in new sukuk across five tranches. The initiative is part of NDMC's strategy to enhance the efficiency of public debt management and support the development of the local debt market. It also aligns with broader efforts to strengthen public finances and optimize the government's debt maturity profile over the medium and long term. The new sukuk issuances are structured as follows: The first tranche amounts to SR21.5 billion, maturing in 2032. The second tranche is valued at SR1.8 billion and matures in 2035. The third tranche totals SR14.2 billion with maturity in 2036, while the fourth tranche is SR5.9 billion, maturing in 2039. The fifth and final tranche is SR16.9 billion, with a maturity set for 2040. The transaction reflects continued demand for Saudi sukuk and forms part of the Kingdom's commitment to proactive fiscal planning and sustainable financial policy under Vision 2030. The Ministry of Finance and NDMC appointed HSBC Saudi Arabia, AlAhli Capital, Al Rajhi Capital, AlJazira Capital, and Alinma Investment as joint lead managers for the issuance. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
