washington - Austerity or growth? Europe’s struggling economies have faced the question without fully answering it in recent years, but the United States is on track to do both.Projections unveiled this week by the Congressional Budget Office indicate the US deficit will shrink more than 40 ...

islamabad - The government failed to control the soaring budget deficit as Pakistan’s fiscal deficit reached Rs 1,046.22 billion (4.4 per cent of the GDP) during three quarters of the outgoing financial year 2012-2013 due to lower revenue collection and higher expenditure.Pakistan’s ...

ISLAMABAD : Pakistan services trade deficit narrowed by 80.99pc during the first three quarters of the current fiscal year as exports surged by over 36.94pc with imports showing negative growth of 4.33pc.The overall services’ exports were recorded at $5.336b during July-March (2012-13) ...

islamabad - In a positive development, the country’s trade deficit decreased by 6.75 per cent during the first ten months of the current fiscal year as exports increased by 4.23 per cent and imports decreased by 1.02pc.The overall exports from the country increased from $19.329 billion in ...

ISLAMABAD - Pakistan’s trade deficit contracted by 4.86 per cent to $15.40 billion in first nine months (July to March) of the current financial year on the back of healthy growth in exports and continuous decline in imports. Country’s trade imbalance shrank to $15.40 billion in the ...

LAHORE - Expressing concerns over slow economic growth and increasing fiscal deficit, the Lahore Chamber of Commerce and Industry has said that the country’s economy is at a high risk and remains vulnerable to internal and external shocks.In a statement issued on Saturday the LCCI President ...

ISLAMABAD  - The Pakistan Railways will soon be able to overcome its deficit and it will restore more trains in future on several sections as locomotives are being rehabilitated on monthly basis. The government had approved project “Special Repair of 150 running locomotives” under ...

ISLAMABAD - Pakistan’s budget deficit has ballooned to Rs 1,761 billion (8.5 per cent of the GDP) during the last financial year 2011-12 against the revised target of 6.6 per cent of the GDP due to the shortfall in revenue collection and additional government’s expenditures.According to ...

BEIJING  - China chalked up its largest trade deficit in at least a decade in February at $31.5 billion, as imports soared 39.6 percent on a year earlier at more than twice the pace of export growth, leaving analysts cautious about seasonal distortions to trade activity.Exports grew at 18.4 ...

LAHORE – SALMAN ABDUHU - The Punjab government has posted a deficit of Rs8.2 billion in first half of current fiscal year compared to surplus of Rs16.6 billion reported last year while Sindh government performance was better, as it managed to post a surplus of Rs4 billion during the period, ...

ISLAMABAD - The government could control its soaring budget deficit if it stops spending on Public Sector Enterprises (PSEs) that eat Rs 300 billion from the taxpayers money every year, which is about 1.5 per cent of the GDP, said Dr Ashfaq Hassan Khan, an eminent economist and Dean National ...

ISLAMABAD - The country’s budget deficit was recorded at Rs 532.526 billion or 2.5 per cent of the GDP during the first half (July-December) of the ongoing financial year 2011-2012, revealed the official figures of Finance Ministry on Tuesday.According to the latest figures, the ...

MEXICO CITY : The rise in US public debt is a serious threat to the whole world if Washington fails to rein it in, the head of the Institute of International Finance warned Saturday."You look at the US budget deficit, and you cannot help but feel that this is a serious accident waiting to happen. ...

ISLAMABAD - The government has succeeded in controlling the fiscal deficit during the first seven months of the ongoing fiscal year 2011-2012, as it was recorded at 3.1 per cent of the GDP during July-January period against 3.4 per cent in the same period of last year (2010-2011).Despite the fact ...

KARACHI  - Pakistan’s current account deficit widened to a provisional $305 million in January 2012, compared with $118 million shortfall in January 2011, the State Bank said on Friday.The current account recorded a provisional deficit of $2.633 billion in the first seven months of the ...

ISLAMABAD - Pakistan’s trade deficit has surged by 40 per cent during the first seven months (July-January) of ongoing fiscal year 2011-12 as it has recorded at $13.172 billion in the period under review against $9.424 billion of the same period last financial year.According to figures of ...

ISLAMABAD - Despite increasing power tariff by 90 percent in last four years, the government is still paying huge amount in term of power subsidy, as this amount could go beyond the level what it paid (Rs 335 billion of last year) in the ongoing financial year 2011-12, which might increase fiscal ...

MADRID  - Spain's public deficit target for this year should be changed because it is based on outdated growth forecasts, Finance Minister Cristobal Montoro said in an interview published Sunday.Spain's new conservative government has raised taxes and slashed spending since coming to power ...

KARACHI  - Pakistan’s fiscal deficit for the first six months of the fiscal year 2011/12 (July-June) was 2.6 percent of gross domestic product (GDP), a Finance Ministry official told Reuters on Friday.This compared with a deficit of 2.9 percent of GDP in the same period the previous ...

ISLAMABAD - By adopting tight cash release policy and healthy revenue collection, the government had curtailed fiscal deficit at around 2.6 per cent of GDP during the first half (July-December) of the ongoing financial year 2011-12, said a top official of the Finance Ministry. The government has ...

ISLAMABAD - The country’s trade deficit has gone up by over 38 per cent to $11.48 billion during the first half (July-December) of the ongoing financial year 2011-2012 against the same period of last year mainly due to higher import bill.According to the figures released by Federal Bureau of ...

ISLAMABAD (Reuters) - Pakistans trade deficit fell to $1.71 billion in October from $1.78 billion in September, the Federal Bureau of Statistics said on Friday. But it was larger than the trade deficit in October last year, which was $1.25 billion. Exports fell to $1.89 billion in October, from ...

India's foreign minister said Wednesday that a "trust deficit" with Pakistan was shrinking as he headed for a regional summit, in a clear sign of warming relations between the neighbours. "The trust deficit with Pakistan is shrinking," S.M. Krishna said on board his flight to the South Asian ...

ISLAMABAD - Pakistans trade deficit has surged to $3.328 billion during the first couple of months (July-August) of the current fiscal year 2011-2012 against the $ 2.784 billion of the same period last year, Federal Bureau of Statistics reported on Saturday. According to latest figures, countrys ...

OUR STAFF REPORTER BAHAWALPUR - The Islamia University of Bahawalpur has approved Rs344.939 million deficit budget for the fiscal year 2011-12. The budget was approved in the Finance and Planning Committee meeting at Abbasia Campus chaired by Vice Chancellor Dr Muhammad Mukhtar. Other committee ...

ISLAMABAD - The countrys trade deficit was recorded at $1.486 billion during the first month (July) of the ongoing financial year 2011-12 against $1.513 billion during the same period last fiscal year 2010-11 thus registering a decrease of over one per cent. According to the figures released by ...

SPECIAL CORRESPONDENT WASHINGTON - President Barack Obama, now reeling in polls, has said the U.S. budget deficit problems were imminently solvable and that he hoped the credit downgrade would spur Washington to act. Standard and Poors downgraded the U.S. credit rating Friday from AAA to AA+ ...

ISLAMABAD (Reuters) - Pakistans trade deficit widened to $15.59 billion in fiscal year ended June 2011, compared with $15.42 billion for the 2009/10 fiscal year, the Federal Bureau of Statistics said on Wednesday. Exports rose to $24.83 billion in the year ending June 30 from $19.29 billion a year ...

ISLAMABAD - The countrys trade deficit has swelled to $14.105 billion during the first nine months (July-May) of the current financial year 2010-2011 against $13.977 billion of the same period last year, Federal Bureau of Statistics reported on Friday. According to the official figures of Federal ...

our staff reporter ISLAMABAD - The countrys trade deficit decelerated by almost two per cent and was recorded at $12.109 billion in the first ten months (July-April) of the current fiscal year over the same period of last year mainly due to the unexpected increase in exports of the country, the ...