National budgets

Prime Minister Justin Trudeau arrives for a news conference on the COVID-19 pandemic outside his residence at Rideau Cottage in Ottawa, Thursday, June 18, 2020. (Justin Tang/The Canadian Press via AP)
July 08, 2020 - 3:40 pm
OTTAWA (AP) — The Canadian government is predicting a historic CDN$343 billion (US$254 billion) deficit for 2020-21 resulting from its economic and stimulus plans to battle COVID-19. The amount, included in a fiscal “snapshot” the Liberal government released Wednesday, is a huge jump from the CDN$...
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European Council President Charles Michel, top of screen, speaks to EU leaders during an EU summit, in video conference format, at the European Council in Brussels, Friday, June 19, 2020. As they brace for the worst economic downturn since the Great Depression, leaders of the European Union's member states will discuss on Friday the bloc's future long-term budget and a multi-billion post-coronavirus recovery plan. (Olivier Hoslet, Pool Photo via AP)
June 19, 2020 - 7:57 am
BRUSSELS (AP) — European Union leaders found that a quick deal on the bloc’s future long-term budget and a multibillion-euro post-pandemic recovery plan remained beyond their reach Friday as the coronavirus ravages their economies. Following a four-hour video summit aimed at paving the way for a...
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FILE - In this Wednesday, April 15, 2020 file photo, European Council President Charles Michel speaks during a media conference on the European Union response to the COVID-19 crisis at EU headquarters in Brussels. European leaders on Friday June 19, 2020, are to discuss a multi-billion post-coronavirus recovery plan and details of the next long-term EU budget, but without real hope a compromise will be found. (John Thys, Pool Photo via AP, File)
June 18, 2020 - 8:44 am
BRUSSELS (AP) — With much discord still among European Union leaders, a video summit this week seems to have no hope of finding a compromise on a multibillion-euro post-coronavirus recovery plan or on the long-term EU budget. Several EU officials and government leaders have shot down expectations...
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FILE - In this Feb. 20, 2020, file photo President Donald Trump arrives to speak at a campaign rally at The Broadmoor World Arena in Colorado Springs, Colo. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election. (AP Photo/Evan Vucci, File)
May 28, 2020 - 11:06 pm
WASHINGTON (AP) — The White House has taken the unusual step of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was confirmed...
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European Commission President Ursula von der Leyen, right, gestures hello to an MEP prior to addressing the European Parliament plenary in Brussels, Wednesday, May 27, 2020. The European Union is to unveil Wednesday a massive coronavirus recovery plan worth hundreds of billions of euros to help countries rebuild their ailing economies, but the bloc remains deeply divided over what conditions should be attached to the funds. (AP Photo/Olivier Matthys)
May 27, 2020 - 9:42 am
BRUSSELS (AP) — The European Union proposed Wednesday a 750 billion-euro ($825 billion) recovery fund to help countries weather a painful recession triggered by the coronavirus and bridge divisions over the conditions that should be attached for access to the money. The fund, to be mostly made up...
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May 22, 2020 - 7:21 pm
SEATTLE (AP) — Mitsubishi Heavy Industries is cutting hundreds of jobs in Washington state and shuttering its U.S. operations for the troubled SpaceJet project, the company said Friday. “Due to the budget directives, Mitsubishi Aircraft will close its overseas locations and consolidate activities...
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Delegates applaud as Chinese President Xi Jinping arrives for the opening session of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, Friday, May 22, 2020. (AP Photo/Ng Han Guan, Pool)
May 22, 2020 - 2:21 am
BEIJING (AP) — China’s No. 2 leader on Friday promised higher spending to revive its pandemic-stricken economy and curb surging job losses but steered clear of launching a massive stimulus on the scale of the United States or Japan. Premier Li Keqiang, in a speech to legislators, said Beijing would...
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FILE - In this Oct. 1, 2019, file photo, soldiers from China's People's Liberation Army (PLA) Navy let out a yell as they march in formation during a parade to commemorate the 70th anniversary of the founding of Communist China in Beijing. China will boost defense spending by just 6.6% in 2020, the lowest rate in years as it battles an economic crisis brought on by the coronavirus outbreak, the government said Friday, May 22, 2020. (AP Photo/Mark Schiefelbein, File)
May 21, 2020 - 10:30 pm
BEIJING (AP) — China will boost defense spending by just 6.6% in 2020, the lowest rate in years as it battles an economic crisis brought on by the coronavirus outbreak, the government said Friday. The figure is down from the double-digit percentage increases of just a few years ago that have given...
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FILE - In this March 30, 2020, file photo, a man jogs past the Olympic rings in Tokyo. Tokyo Olympic CEO Toshiro Muto talked Thursday, May 21, about the need to take “countermeasures” to combat COVID-19 at next year's postponed games. (AP Photo/Jae C. Hong, File)
May 21, 2020 - 9:44 pm
DENVER (AP) — The U.S. Olympic and Paralympic Committee is eliminating 51 positions and furloughing 33 more as part of a dramatic cut in staffing designed to trim up to 20% of its budget to respond to shortfalls caused by the coronavirus pandemic. “I am overwhelmed by the magnitude of this change...
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German Chancellor Angela Merkel speaks during a press conference following a joint video conference with French President Macron in Berlin, Germany, Monday, May 18, 2020. One topic was the Corona Pandemic and its consequences. (Kay Nietfeld/dpa via AP)
May 19, 2020 - 11:13 am
FRANKFURT, Germany (AP) — Germany’s agreement to share debt with other EU countries to finance an economic recovery plan is being greeted as a political breakththrough and an overdue sign of unity in the face of the worst downturn the bloc has ever seen. Chancellor Angela Merkel broke with her...
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