The Ministry of Finance on Tuesday urged local authorities to advance fiscal and tax reforms as fiscal revenue had slowed, which would negatively impact on achieving the 2015 development target.
Fall in prices of oil and other commodities are likely to slow economic growth in Sub-Saharan Africa to 4 percent in 2015 from 4.5 percent in 2014, the World Bank forecast on Monday.
The European Union officials on Wednesday warned of macroeconomic imbalance in Germany and fiscal problem in France, adding that Belgium, the Netherlands, Romania, Finland, Sweden and Britain requiring monitoring and policy action to address fiscal situation.
South Korea's central government debts hit an all-time high in August as it increased fiscal expenditure to boost the sluggish economy, a government report showed Tuesday.
Despite signs of cooling in the Chinese economy, observers believe it has the resilience to pick up pace in Q4, supported by fiscal and monetary policy and an improving export outlook.
An International Monetary Fund (IMF) official on Sunday called for smart fiscal policy to create jobs amid slow global economic recovery and high public debt levels.
Immediate pressures on the public finances in emerging markets have eased in recent months as sovereign-bond yields and volatility have declined, but fiscal risks are on the rise in most emerging market economies, said the International Monetary Fund (IMF) on Wednesday in a newly-released report.
Bangladesh recorded a current account surplus of over one billion U.S. dollars in the first month of the current 2014-15 fiscal year (July 2014-June 2015) as import payments dipped by double-digit levels, official data showed Sunday.
The Housing Authority projects a decreasing surplus in the coming financial year, manily due to the increase in public housing construction and downfall in investment returns.
China's key fiscal and monetary policy will be kept unchanged in 2014, signaling that the government will target internal structural reforms while maintaining stability and containing risks, analysts have said.
The U.S. federal government budget deficit fell to 680 billion dollars for the 2013 fiscal year, as its revenue increased and spending dwindled, the Treasury Department reported Wednesday.
Malaysia's economic growth next year will likely be subdued, falling below the government's target, due to fiscal consolidation, a foreign services company predicted.
As the fiscal wrangle over U.S. federal government's budget and debt ceiling lingers, U.S. President Barack Obama has started to reach out to congressional leaders of both parties to end the fiscal impasse.
The lack of proper mid-term deficit cuts plan in the U.S. and Japan as well as the uncertain global environment and weak growth prospects put hurdles on global fiscal consolidation, said the International Monetary Fund (IMF) on Wednesday in a newly-released report.
U.S. President Barack Obama on Tuesday urged Democrats and Republicans to work on their budget differences to end the fiscal logjam, saying he is willing to talk with Republicans only after the threats of government shutdown and debt default are removed.
International Monetary Fund Managing Director Christine Lagarde Thursday called for better global policy cooperation and economic reforms that could help tackle specific challenges in both advanced and emerging economies.
China's fiscal revenue continued a trend of slow growth in May due to tempered economic expansion and the country's tax cutting policies, according to official data released on Sunday.
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