SAN JUAN, Puerto Rico — Puerto Rico’s governor said Tuesday that the U.S. territory’s budget for the upcoming fiscal year will be the largest in history at $14 billion, with new funds meant to help the island’s elderly population, reduce violence and expand solar power programs, among other things. The announcement was made during Gov. … Read more
LONDON — Leading British economic think tanks warned Thursday that whoever wins the general election expected this year will face some very tough choices on tax and spending if they want to make sure the public finances don’t deteriorate further. After number-crunching Wednesday’s budget statement from Treasury chief Jeremy Hunt, which reduced a tax paid … Read more
LONDON — British Treasury chief Jeremy Hunt is seeking to bolster spirits within his Conservative Party ranks with a series of tax cuts that he hopes can turn the political dial ahead of a general election this year. Even though the British economy has hit one definition of recession and public finances will remain stretched … Read more
EU leaders on Thursday sealed a deal to provide Ukraine with 50 billion euros ($54 million) to shore up its war-ravaged economy after Hungary dropped weeks of threats to veto the measure. The aid package — about two-thirds loans and one-third grants to be paid out over a four-year period — is not intended to … Read more
Farmers are blocking highway access roads in parts of Germany and gathering for demonstrations, launching a week of protests against a government plan to scrap tax breaks on diesel used in agriculture BERLIN — Farmers blocked highway access roads in parts of Germany Monday and gathered for demonstrations, launching a week of protests against a … Read more
ATHENS, Greece — The Greek parliament on Sunday evening approved the government’s 2024 budget, the first in 14 years with Greek debt listed at investment grade. The budget passed on a 158-142 vote in the 300-member body, with only lawmakers from the governing conservative New Democracy party voting for it. In a separate vote, the … Read more
BERLIN — German Chancellor Olaf Scholz said Saturday he is confident that his troubled government will find a good solution to a budget crisis triggered by a court ruling last month, and promised his center-left party there will be no dismantling of the country’s welfare state. Leaders of Scholz’s three-party coalition have been wrangling over … Read more
FRANKFURT, Germany — With its economy struggling, Germany now is wrestling to find a way out of a budget crisis after a court struck down billions in funding for clean energy projects and help for companies and consumers facing high utility bills because of Russia’s war in Ukraine. Chancellor Olaf Scholz plans to lay out … Read more
German Chancellor Olaf Scholz (C), Finance Minister Christian Lindner (R) and Economy Minister Robert Habeck give statements to the media following the weekly government cabinet meeting on November 15, 2023 in Berlin, Germany. Sean Gallup | Getty Images News | Getty Images Germany’s budget is in trouble. Last week, the constitutional court ruled that it … Read more
TIRANA, Albania — Albanian opposition lawmakers disrupted the Parliament’s session again on Monday to protest against what they say is increasingly authoritarian rule by the governing Socialists. Democratic lawmakers lit flares and piled chairs on top of each other in the middle of the hall the minute Prime Minister Edi Rama took his seat to … Read more