Budget news — October 28, 2026

7 publications

1. WorldMiddle EastBudget

   Oct 28, 2026, 23:38 UTC

   

   Mexico's Senate Approves 2027 Income Law

   The Mexican Senate has approved the Federal Income Law for the 2027 fiscal year with 73-33 votes. The law defines the state's revenue capture for the next year, including an estimated total of 10.6 trillion pesos (around $570 billion USD) and a debt ceiling of 1 trillion 700 billion pesos. The Income Tax Law (ISR) reforms were included to facilitate compliance and prevent tax evasion, but they will return to the Chamber of Deputies with modifications.

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2. WorldMiddle EastBudget

   Oct 28, 2026, 14:07 UTC

   

   Mercedes-Benz Lowers Profit Forecast Due to China Slowdown

   Mercedes-Benz has significantly reduced its profit forecast for 2026, citing weak business in China and rising costs. The German automaker now expects its core profit to remain flat at €5.8 billion, abandoning its earlier forecast of 15% growth. This revision follows similar moves by competitors Volkswagen and BMW, highlighting the challenges faced by German automakers in the Chinese market. Mercedes-Benz's stock temporarily lost more than five percent following the announcement.

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3. BusinessBudget

   Oct 28, 2026, 13:21 UTC

   

   Cabinet Approves 3% Dearness Allowance Hike for Central Govt Employees

   The Modi cabinet has approved a 3% hike in dearness allowance (DA) for central government employees, amounting to ₹10,016 crore. This decision, announced ahead of Diwali, is seen as a gift to the employees.

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4. WorldBillMiddle EastBudget

   Oct 28, 2026, 11:14 UTC

   

   Ukraine's Parliament Approves 2027 Budget in First Reading

   The Verkhovna Rada of Ukraine has approved the state budget for 2027 in its first reading. The budget, which includes a deficit of around $36 billion, was supported by 239 deputies. It contains a record number of 5236 amendments, with 90 proposals selected by the budget committee for consideration. Among the key proposals are increasing military personnel salaries, boosting state guarantees for defense enterprises, and expanding housing funding for military personnel. The budget will now be sent to the government for preparation for the second reading, scheduled for November 23-26.

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5. SocietyMiddle EastBudgetBiodiversity

   Oct 28, 2026, 08:27 UTC

   

   Primorye Residents Face Social Payment Delays Due to War Expenses

   Residents of Primorye, a region in Far Eastern Russia, have been warned about potential delays in receiving government benefits due to increased strain on the regional budget caused by spending on the war against Ukraine. The regional labor and social policy ministry announced that some social support measures would be funded in stages, leading to possible temporary delays in payments. This comes after the regional legislature cut the budget by 3.8 billion rubles ($47.1 million) across various state programs, including healthcare, education, and social support. Simultaneously, 1.5 billion rubles ($18.6 million) were added to the regional reserve fund to support specific groups affected by the war. Nationally, Russia's 2026 budget deficit is projected to reach a record high due to increased military spending.

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6. U.S.BudgetTax

   Oct 28, 2026, 05:50 UTC

   

   U.S. National Debt Hits Record High of $40.5 Trillion

   The U.S. national debt has reached an unprecedented high of $40.5 trillion, marking the first time it has crossed this threshold. This significant milestone was achieved in August 2026, with the debt increasing by $20 trillion in less than a decade. The rapid accumulation of debt, at a rate of nearly $7 billion per day, has raised concerns among economists and policymakers. The debt is projected to surpass $41 trillion by early January 2027 if current trends continue.

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7. WorldLocal GovProtestMiddle EastBudget

   Oct 28, 2026, 02:23 UTC

   

   Protests in Italy: Causes and Political Fallout

   Across Italy, protests erupted over the weekend, with clashes between police and demonstrators in Rome, Milan, and Turin. The unrest, fueled by concerns over living costs and opposition to defense spending, allowed Prime Minister Giorgia Meloni to present herself as a defender of public order. However, critics argue that her party has used the situation to accuse the left of tolerating radicals. The protests, which began under the slogan 'No Meloni Day,' reflect Italians' anxiety about making ends meet and opposition to war and rearmament. Despite high spending on pensions and healthcare, many Italians feel disadvantaged and call for cuts in spending and taxes.

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