In Today’s Digital Newspaper Abbreviated report today.
Payment timings played a role in affecting the deficit: payments due on weekends caused a net increase in outlays for fiscal year 2023 by $23 billion. Specifically, the deficit saw an increase in June 2023 due to July 1 being a Saturday. Without these timing shifts, the nine-month deficit would have been slightly lower at $1,367 billion instead of the recorded $1,390 billion.
— Australia has issued a stern warning to China over its ongoing review of import tariffs on Australian barley. Despite having agreed to a 90-day review period in April, China has sought a one-month extension. If the delay prolongs further, Australia threatens to restart its dispute settlement case at the World Trade Organization .
— President Biden and G7 leaders are set to declare a"substantial" aid package for Ukraine. This assistance is targeted at bolstering Ukraine's military capabilities and thus addressing the ongoing challenges faced by the country due to conflicts. The development was confirmed by a U.S. official at the NATO Summit in Lithuania.
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Kitco daily macro-economic/business digest - July 11
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