A Defense Department study that proposed cutting $125 billion in administrative waste from the Pentagon budget was buried amid concerns the findings would give Congress an excuse to further slash defense spending, The Washington Post reported Monday. The report, issued in January 2015, identified a ...
Despite promises to the contrary, the Abe administration keeps boosting government spending by making use of supplementary budgets.
China has replaced veteran reformer Lou Jiwei with a new finance minister who will be tasked with juggling fiscal stimulus and efforts to rein in excess leverage in the world's second-largest economy. Xiao Jie, previously a senior aide to Premier Li Keqiang, will replace 65-year-old ...
Prime Minister Shinzo Abe has ordered his ministers to study specific measures to curb increases in medical expenditures as an effort to restore the nation’s fiscal health.
The United States and Israel have agreed on a record $38 billion package of U.S. military aid and will sign the pact on Wednesday, enshrining defense funding for Washington's closest Middle East ally for the next decade, officials said. The deal will represent the biggest ...
The United States Army's finances are so jumbled it had to make trillions of dollars of improper accounting adjustments to create an illusion that its books are balanced. The Defense Department's inspector general, in a June report, said the army made $2.8 trillion in wrongful ...
Prime Minister Shinzo Abe orders economic revitalization minister Nobuteru Ishihara to come up with a range of economic measures, including a supplementary budget for fiscal 2016.
Tax revenues in fiscal 2015 totaled ¥56.29 trillion, falling short of the central government’s estimate, which will make it hard to finance an extra budget in the current fiscal year.
South Korea's government said Tuesday it will soon present to parliament a supplementary budget of around 10 trillion won ($8.44 billion) as the nation grapples with weak exports, turmoil from Brexit in financial markets, and a corporate overhaul of the country's shipping and shipbuilding ...
The government said Tuesday it will use the first batch of its recently approved extra budget to revive tourism and rebuild businesses in quake-rattled Kyushu. Of the ¥778 billion earmarked in the supplementary budget for the current fiscal year, ¥18 billion will be spent on ...
In the event that the U.S. economy crashes, Donald Trump has floated a recovery plan based on his own experience with corporate bankruptcy: Pay America's creditors less than full value on the U.S. Treasurys they hold. Experts see it as a reckless idea that would ...
World military spending rose 1 percent in 2015, the first annual increase in four years, a Stockholm think tank said Tuesday as it estimated 10 percent of this could cover the costs of global goals aiming to end poverty and hunger in 15 years. The ...
