Analysts expect Prime Minister Mark Carney to push the federal government’s budget deeper into the red as Canada ramps up spending to bolster its military and infrastructure https://t.co/vpBhF5l3kH ...

France’s new Prime Minister Sebastien Lecornu dropped an unpopular proposal of his predecessor to cut two public holidays, while warning that the government will need to find other ways to trim its budget deficit https://t.co/3cpLYg7PbH ...

South Africa may beat its budget-deficit target for this year, helped by restrained spending and healthier tax collections, BNP Paribas says https://t.co/33xo42buBC ...

Romania’s government survived the latest attempt by the far-right opposition to oust it after approving a second set of reforms aimed at lowering the widest budget shortfall in the European Union https://t.co/bvhir6bRIH ...

Fitch signaled it may lower Poland’s A- credit score as public debt quickly grows and there’s limited prospects for the government to reduce its bulging budget deficit https://t.co/pGsg8NJdWG ...

Financial Outlook - New York State faces a potential $34 billion deficit over the next three years, the largest since the global financial crisis [1][2][5] - The current fiscal year is performing slightly better than projected, with revenues exceeding expectations in the first quarter by approximately $580 million [3][5] - Federal funding cuts, particularly in healthcare, are worsening New York State's finances, with an immediate impact of about $750 million in this year's budget [1][4] - Healthcare alone could face at least $3 billion in cuts next year, potentially increasing the budget gap to over $7 billion [6] Risks and Uncertainties - The $34 billion deficit does not fully account for the restructuring of the federal-state relationship and its negative impact on federal receipts, especially for healthcare [5] - There is uncertainty regarding the full impact of federal changes, with estimates suggesting the New York healthcare system could lose about $13 billion a year [7][8] - One million New Yorkers could lose healthcare coverage, potentially increasing costs due to emergency room visits [8][9] - Long-term cuts could amount to tens of billions of dollars across various sectors, including nutrition programs (SNAP), energy programs, and infrastructure projects related to climate change [10] Potential Solutions and Considerations - New York State needs to start planning now to avoid changes that could negatively impact New Yorkers, including considering both cuts and revenue impacts [7] - The state may need to consider raising taxes in coming years, but there are concerns about taxpayer migration [11][12] - The budget negotiation between the legislature and the governor will be tougher, focusing on spending and revenue questions [14] - There is a need to explore smarter spending strategies to save money without hurting services or people, such as comptroller audits on the Medicaid program [17]

France will meet its budget deficit target of 5.4% for this year, Finance Minister Eric Lombard said https://t.co/S0dXudg2Z7 ...

UK budget deficit shrinks, homebuilders delay, and food bills rise -- get briefed ahead of your morning calls with The London Rush https://t.co/qHZXEfCODM ...

The UK registered a small budget deficit in July, bringing temporary relief for Chancellor Rachel Reeves https://t.co/l2O5kxgRIW ...

Senegal's Economic Situation - Senegal faces a significant challenge with $7 billion in debt that went undetected for nearly five years [2] - Debt to GDP ratio has exceeded 100%, and the budget deficit has increased [3] - The IMF seeks guarantees that the financial irregularities will not recur [4] IMF Intervention and Conditions - The IMF has disbursed $700 million of a $18 billion program, with further disbursements contingent on conversations [6] - The IMF aims to reduce Senegal's debt to GDP ratio to 50% [5] - The IMF recommends eliminating subsidies, especially on fuel and power [10] Potential Solutions and Challenges - Senegal needs to raise $5 to $10 billion, which cannot be sourced domestically [7] - Without an IMF program, international partners are hesitant to provide financial assistance [8] - Senegal is considering renegotiating oil and gas contracts, import taxes, and taxes on SMEs [9] - Austerity measures and tax increases may face resistance from the population [9][10]