Treasure Department published monthly budget report on Thursday. This year a 0.1% increase is reported from last year. This full-year's deficit is forecasted to be much higher than 2015.
budget deficit
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Russia says there's proposal from OPEC on production cuts and it's open to have a word on oil production cuts. Russia is a non-OPEC oil producing nation. Russian oil minister said that the proposal envisages five percent cut in the oil production to support falling oil price. However, there's no clarity over the proposal whether it was from OPEC or non-OPEC members.
The United States ended the month of March with a budget deficit of $53 billion, up 43 percent from the same period last year, the U.S. Treasury Department said on Monday.
China will take steps to rein in possible risks from short-term local government bonds, including converting such bonds into long-term debt, the country's vice finance minister, Zhu Guangyao, said on Saturday.
The European Commission postponed until March its decisions on whether the 2015 budgets of France, Italy and Belgium break EU rules, saying it needed more information to be sure.
Rafael Correa, President of Ecuador, would be relying on USD18 billion worth of oil resources inside the Yasuni National Park to save the country from going bankrupt.
