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Budget news — August 12, 2026

Publications tagged with Budget published on August 12, 2026 (UTC). This is a fixed calendar-day archive.

18 publications

  1. SocietyCorruptionBudgetHealthcareFraud

    RFK Jr. Accuses Becerra of Gutting HHS Fraud Oversight

    Robert F. Kennedy Jr., the current Health and Human Services (HHS) Secretary, has accused his predecessor Xavier Becerra of significantly reducing the agency's fraud oversight staff. Becerra transferred 76 out of 80 personnel responsible for monitoring $2.2 trillion in annual payments across 50 states and five territories. Kennedy warned this move invited fraudsters, leading to billions lost in fake hospice bills, durable medical equipment scams, and autism services fraud, particularly in Los Angeles. He criticized the previous 'pay and chase' approach, where payments were made first and recovery attempted later.
    3 sourcesSee all sources
  2. WorldNorth AmericaBudgetManufacturing

    California High-Speed Rail Project Faces Cash Shortage by 2027

    California's high-speed rail project is at risk of running out of money by December 2027, according to a warning from the project's Inspector General. The project has cut its train order in half, dropped the 'Buy America' requirement, and still has no train contract. The $4 billion federal funding loss leaves the project needing billions in financing within 16 months.
    5 sourcesSee all sources
  5. BusinessChinaBudget

    Russia's Economy Returns to Growth with 1.3% GDP Increase in Q2 2026

    Russia's economy has rebounded, with a 1.3% GDP growth in the second quarter of 2026, according to preliminary estimates by Rosstat. This follows a 0.2% decline in the first quarter. The growth was driven by retail trade turnover, food service turnover, freight turnover, and high domestic demand. The Russian economy grew by 0.6% in the first half of 2026. Minister of Economic Development Maxim Reshetnikov attributed the recovery to systematic work by the government and the Central Bank to support structural changes and increase economic stability.
    44 sourcesSee all sources
  7. SocietyBudgetEarningsSafety

    Philippine Labor Groups Ask Supreme Court to Overturn Wage Increase TROs

    Labor groups and a lawmaker petitioned the Supreme Court to nullify temporary restraining orders (TROs) issued by regional trial courts in Pasig and Navotas, blocking a P85 daily minimum wage increase for Metro Manila workers. They argue that only the National Wages and Productivity Commission, not lower courts, has jurisdiction over wage orders. The dispute, which affects over 1 million workers, comes amid elevated living costs and could delay full wage benefits if prolonged.
    4 sourcesSee all sources
  8. BusinessBudgetCommodities

    ERC Proposes Scrapping VAT on System Loss Charge in Electricity

    The Energy Regulatory Commission (ERC) is proposing to remove the 12% Value Added Tax (VAT) on system loss charges in electricity, which amounts to billions of pesos annually. The ERC aims to finalize the resolution by early September and secure the Bureau of Internal Revenue's concurrence. This move is expected to provide immediate relief to consumers, with estimated savings of P6 billion. The proposal has received support from lawmakers and industry experts.
    5 sourcesSee all sources
  9. WorldMiddle EastBudget

    DPWH Seeks P107.4 Billion for Flood Control Projects in 2027 Budget

    The Department of Public Works and Highways (DPWH) has proposed a budget of P107.4 billion for flood control projects in the 2027 national budget. This is a significant decrease from previous years' budgets, which reached as high as PHP 300 billion. The budget includes funds for maintenance, repair, rehabilitation, and improvement of existing infrastructure, as well as ongoing foreign-assisted projects and the Metropolitan Manila Development Authority's flood control program. The government plans to tighten scrutiny of the budget to prevent anomalies and ensure that funds are spent on effective flood control projects.
    12 sourcesSee all sources
  10. WorldEuropean UnionBudgetLogistics

    EU's New Packaging Regulation Affects Small Online Traders

    The EU's new Packaging and Packaging Waste Regulation (PPWR) is set to come into force on August 12, 2026, with significant impacts on small online traders. Key changes include extended producer responsibility (EPR) obligations, requiring traders to appoint representatives in each target EU country for registration, quantity reports, and disposal financing. This applies from the first package sent, with costs typically ranging from several hundred to several thousand euros per year. Many small traders are stopping or reducing EU cross-border shipping due to these new obligations. The regulation aims to reduce packaging waste, promote recycling, and minimize hazardous substances.
    17 sourcesSee all sources
  12. WorldExecutiveMiddle EastBudget

    Philippines Plans Record Borrowing in 2027

    The Philippine government plans to borrow 3.3 trillion pesos ($54 billion) in 2027, a 21% increase from this year, to finance a budget deficit and repay debt. The debt stock is projected to hit a record 21.48 trillion pesos ($350 billion) by end-2027, with domestic sources accounting for 72% of total gross borrowings. Economic growth has weakened, with GDP expanding by 2.3% in the second quarter.
    4 sourcesSee all sources
  14. WorldRegulatorsMiddle EastBudget

    Brazil Faces Trade Barriers Beyond U.S. Tariffs

    Brazil's beef exports face challenges beyond U.S. tariffs, with key trading partners imposing restrictions. China has implemented a 55% tariff on Brazilian beef and reduced its import quota, while the European Union (EU) has suspended imports of Brazilian meat and animal-origin products due to insufficient controls over antimicrobial use. Norway, following the EU's decision, will also stop buying Brazilian animal products starting September 3. Brazil seeks to diversify its exports but faces a complex global market.
    3 sourcesSee all sources
  16. WorldLocal GovCivil RightsMiddle EastBudget

    Activists Push for Sex Work Decriminalization Bill in Thailand

    Activists rallied outside Government House on Tuesday, urging Prime Minister Anutin Charnvirakul to endorse a citizen-sponsored bill to decriminalize sex work and provide sex workers with labor rights and social security coverage. The bill, backed by 10,293 signatures, has been stalled since July 10. The Empower Foundation said the proposed law would replace arrests and criminal penalties with labor protections, including access to compulsory social security coverage. Representatives from Bangkok, Chiang Mai, and Udon Thani submitted a petition to government officials and said they would step up their campaign if there was no progress within another 30 days.
    2 sourcesSee all sources
  17. WorldAfricaBudgetReal Estate

    Hong Kong Public Housing Rent Increase by 2.85%

    The Hong Kong Housing Society (HKHS) has announced a 2.85% increase in rent for public housing units under its management, effective from October 1, 2023, until September 30, 2028. Low-income families (Group A) will see an average monthly increase of HK$73, while relatively higher income families (Group B) will pay an additional HK$200 per month. New estates completed in the past two years will not be affected by this rent review. This increase follows a 10% rent hike in 2024, with the first three months' increases waived for most households. Around 30% of Hong Kong's population resides in public rental housing.
    2 sourcesSee all sources
  18. WorldPolicyMiddle EastBudget

    Unidentified Drones Spotted Over Diego Garcia Base

    Unidentified drones have been reported over Diego Garcia, a remote U.S.-U.K. military base in the Indian Ocean. The U.K. Ministry of Defense confirmed awareness but provided no details. U.S. Pacific Command also declined to discuss the incident. The sightings raise concerns about the vulnerability of the strategically important base, which hosts bombers and naval operations. Iran has previously targeted the base with ballistic missiles.
    7 sourcesSee all sources