Time to focus on the long term Oct 15, 2009
Second, the Government can bring forward some of the decisions that it will need to take to deliver on its promise to keep growth in real government spending to less than 2 per cent a year from 2010-11 onwards, decisions that will inevitably involve cut-backs in other areas of government expenditure. That is, ensuring that the stance of fiscal policy remains appropriate as circumstances change doesn't necessarily require curtailing stimulus measures already in the pipeline - it can be achieved... (Sydney Morning Herald -- Business)
Jobs time bomb looming Oct 9, 2009
While government expenditure on education has risen significantly, this has not been shown in results and a number of surveys have shown that South Africa's schooling system has failed to provide school-leavers with the necessary skills to make a meaningful contribution to the economy. South African children consistently score badly in international achievement tests, even when measured against far poorer African nations. (iAfrica.com)
* Loopholes are hurting national tax collection Oct 7, 2009
Government expenditure has exceeded revenues since the mid-1980s. Following the transfer of political power in 2000, the national debt began increasing 10 times faster than before. (Taipei Times, Taiwan -- World)
Welcome to Tate County 2010! Oct 6, 2009
Actually, we are better off than most other states, but we are still going to have to watch every single government expenditure at every level. The Democrat 2009. (Seantobia Democrat, MS)
Bill Could Nearly Double Nevadans Getting Medicaid Oct 6, 2009
Medicaid is the second most costly state government expenditure, after public education funding. Duarte recently said he'll have to seek another $37 million from the state Legislature in 2011 because the current Medicaid enrollment is already 11,000 people more than the level for which it was funded in June. (KLAS-TV.com, NV)
Tax rates shocker? Oct 6, 2009
Government expenditure increased by a mere R0. 6-billion to R53. (iAfrica.com)
English Says New Zealand's Currency Will Weaken Against Aussie on Growth Oct 5, 2009
Just at a time when government expenditure was rising quite quickly on the back of 15 years of surpluses, our revenue has taken considerable shock, he said. It looks about 10 years until the books are back in surplus. (Bloomberg -- Australia & New Zealand)
Taxing problem for the Caymans Oct 3, 2009
The Cayman Islands Government has also signalled that it is ready to cave in to British conditions on slashing government expenditure and an independent report on reform of its tax system that could see it start to impose direct levies to obtain further loans worth $CI229 million. Richard Parchment, an adviser to the Government, said a letter would be sent to Britain with a formal agreement this week. (Sydney Morning Herald -- Business)
Transcript of the Global Financial Stability Report Press Conference with Jose Viñals, Financial Counsellor and Director of the Monetary and Capital Markets Department Oct 2, 2009
But it is also the case in the United States where private credit demand has slowed considerably, but the amount to be financed for government expenditure is very high. QUESTION: On impaired assets, why is it that banks have only recognized roughly half of the losses that you expect them to do, and is there a policy that governments and the authorities should be implementing, whether it be accounting standards or something else, to ensure the losses are recognized. (IMF News)
Good news as economy gets $5b bonus Sep 30, 2009
They can't claim any more that a wrecking ball has put a massive hole in their budget because it is clearly Government expenditure that has done it,'' he said. The Westpac senior economist, Andrew Hanlan, said net debt, which was forecast to peak at $188 billion in 2012-13, would now rise to about $100 billion. (Sydney Morning Herald -- Australia)
Indonesia regaining its lost charm Sep 26, 2009
With external demand, particularly from industrialised nations, expected to remain sluggish for a while (despite their economies returning to gradual growth), Asian countries, many of whom are highly dependent on exports to these nations, are now turning to domestic demand which constitutes household consumption, government expenditure and aggregate investments as the key recipe for sustainable growth. And this is where Indonesia has the advantage. (The Star Online, Malaysia -- Business)
Obamacare: Buy insurance or go to jail! Sep 26, 2009
By either paying for the public option or going to jail, you are a consumer of government expenditure. Posted By: Regulus | September 25, 2009 at 03:07 PM. (The Drudge Report)
* Taiwan to borrow NT$516.2bn for next year's budget Sep 25, 2009
552 trillion, but the Wu Cabinet trimmed projected government expenditure by NT$4 ... Spending on education, science and cultural development accounts for the lions share of government expenditure for next year at 20. (Taipei Times, Taiwan -- World)
Cabinet discussing spending cuts Sep 18, 2009
Over the summer Treasury officials looked at the scope for savings in areas covering around a half of government expenditure - for example the use of space in hospitals and quangos with overlapping responsibilities. The BBC understands Mr Darling has now begun holding one-to-one meetings with cabinet colleagues to establish their spending priorities and to identify possible savings in their departments. (BBC News -- UK)
A deluded G-20 Sep 17, 2009
They are not as concerned as they should be about the rising public debt and implications of large government expenditures in the long-run when such expenditures turn out to be unsustainable and become a depressant for economic activity as opposed to a stimulant ... The reduction of public spending is a most difficult challenge, as government expenditure are always incompressible and political opposition rises to fight spending cuts. (Asia Times Online)
Gordhan warns of higher deficit Sep 16, 2009
He conceded that government expenditure trends were "notoriously difficult to estimate", but said "the risks to the expenditure side of the budget are tilted firmly to the upside". Funding the deficit will be problematic in the current environment. (Business Report, South Africa)
'Easy norms for medical colleges' Sep 15, 2009
The minister said that the government expenditure on health has gone up to 1. 4% of GDP during 2008-09 as compared to 0. (India Times)
Government directive on vehicles not being complied with Sep 11, 2009
The workers who spoke on condition of anonymity noted that despite a cut in government expenditure resulting in the cut of fuel to some agencies and departments, some officials entrusted with such vehicles overuse or misuse them thus burdening the ordinary taxpayer. To them merely issuing the directive on changing the numbers is not enough in checking the misuse of state vehicles, especially at weekends for funerals and other social events. (Ghana Web, Ghana)
BOG Re-affirms fight Against Inflation Sep 9, 2009
The think-tank therefore maintains that the only explanation for this loss of fiscal credibility by the NPP government can only be found in the loss in discipline with regard to government expenditure, among other issues. The new NDC government has put in place measures to restore health to the ailing economy it has inherited. (Ghana Web, Ghana)
Nigeria: CBN Sends Resident Examiners to Banks Sep 8, 2009
Section 80(1) of the 1999 Constitution says that all government expenditure should be appropriated by the National Assembly. The bank said in a statement issued by the head of corporate affairs of the bank, Mr. Mohammed Abdullahi, that any attempt to amend the CBN Act would amount to preventing the CBN from playing its role of lender of last resort. (allAfrica.com)
Uganda: Offshore Investors Help Shore-Up Shilling Sep 7, 2009
End of year taxes in June and slow government expenditure at the start of the July-June year traditionally create a liquidity shortfall. Rates also rise in December due to Christmas spending and mid-year taxes, traders say. (allAfrica.com)
Indian economydrier than forecast Sep 4, 2009
What really carried the day in the last quarter's GDP numbers, as in the previous quarter, was higher government expenditure ... From the expenditure side, the national income identity equation looks like this: Y = C + I + G + (X-M), where Y = GDP, C = consumption expenditure, I = Investment expenditure, G = government expenditure, X = exports and M = imports. (Asia Times Online)
Pressuring Iran on Nukes: Would a Gas Embargo Help? Aug 31, 2009
By 2003, the leaders today associated with the ongoing Green Movement opposition Khatami, Mehdi Karroubi and Ali Akbar Hashemi Rafsanjani all supported rationing gasoline in order to reduce domestic consumption and government expenditure. Because anyone could purchase unlimited amounts of gasoline for about 30 cents a gallon, the benefits of the gasoline subsidy, as well as subsidies for cooking gas and electricity, were overwhelmingly going to wealthier Iranians, simply because they spent more... (Time.com)
* African states and common currencies Aug 29, 2009
Government expenditure exceeded federal revenue, despite rapidly rising foreign-exchange earnings from oil exports after 1970. The federal governments budget deficits were financed through foreign and domestic borrowing, and by printing money, which led to inflation and depreciation of the new currency. (Taipei Times, Taiwan -- Business)
Pension models and the pitfalls Aug 28, 2009
Funded by taxpayers, it currently takes up the largest chunk of government expenditure and yet it helps to keep about 40% of all Americans aged 65 or older out of poverty. Increasingly, the solvency of the programme is being called into question, as it worsened with the fallout of the financial crisis that required the government to increase spending to boost its flagging economy in the midst of high unemployment. (The Star Online, Malaysia -- Business)
Uganda: Uganda's Trade Surplus Hits $19m Aug 28, 2009
End of year taxes in June and slow government expenditure at the start of the July-June year traditionally create a liquidity shortfall, and rates also rise in December due to Christmas spending and mid-year taxes, traders say [ID:nLE296172. The Bank of Uganda said that it hoped the policy would iron out the liquidity issues facing Uganda's markets. (allAfrica.com)
Germany emerges from recession in second quarter: data Aug 25, 2009
"The economic development in the second quarter of 2009 was supported by private and government expenditure ... positive impulses also came from construction," the statistics office said in a statement. However, exports, the driving force of the German economy, were down 1. (Sydney Morning Herald -- World)
Cut in Govt expenditure unlikely to offset deficit Aug 21, 2009
This is a long-term measure that requires a lot of government expenditure. Ariff said. (The Star Online, Malaysia -- Business)
› Waste not, want not Aug 20, 2009
Take, for example, their a nifty tool which catalogues all government expenditure that the DA deems wasteful. Currently, the running expense total is sitting at R79-million pretty steep for a country in the grip of a recession. (iAfrica.com)
Rein in expenses before implementing GS tax Aug 20, 2009
The second thing that needs urgent tackling before implementing a GST is government expenditure. The Government needs to rein in its expenses first before tapping the public for more tax money. (The Star Online, Malaysia -- Business)
MIER: Govt must reform tax; introduce GST or VAT Aug 18, 2009
With growing government expenditure, including development expenditure and declining revenue, we may have a double digit ratio of debt to gross domestic product (GDP). . (The Star Online, Malaysia -- Business)
South Africa: Country is More Hopeful After 100 Days of Zuma [opinion] Aug 17, 2009
This would increase government expenditure from about 31% to more than 40% of gross domestic product (GDP), which would be an unbearable burden on the country's very small tax base. There are only 5,3-million taxpayers and 1,2-million of these pay 75% of all personal and company tax collected, he pointed out. (allAfrica.com)
France and Germany exit recession Aug 13, 2009
The country's Federal Statistics Office said that household and government expenditure had boosted growth. It added that imports had declined "far more sharply than exports, which had a positive effect on GDP growth". (BBC News -- Business)
Uganda: Toyota Goes to Arua Aug 12, 2009
Richard Andama, the Arua district chairman, commended Toyota for taking services closer to clients, saying it played a major role in reducing on local government expenditure as they used to get the services from Kampala. Be the first to. (allAfrica.com)
I Love NPP....But AFAG Is A Joke Aug 7, 2009
Excellent thought to reduce budget deficit, by working hard to pay off as much debts as possible through cutting government expenditure, full cost recovery at tertiary education level, removal of petrol subsidies etc. but are these the only ways to do that. (Ghana Web, Ghana)
Mboweni must cut - union Aug 5, 2009
More than ever the policy must target economic growth and job creation, rather than just inflation," Cosatu said. It alerted to a Naamsa statement that said: "Improvement in the automotive industry's domestic operating environment would depend on a revival in consumer spending on the back of lower interest rates as well as on stimulatory government expenditure. "So Tito Mboweni, in his final announcement as Sarb Governor before he says goodbye, could do the nation a huge favour by announcing a... (iAfrica.com)
Deora serving Mukesh's greed: Anil Jul 29, 2009
Any government expenditure of Rs 150 crore or more has to be approved by the cabinet committee on economic affairs (CCEA), he pointed out. Yet, an issue that has much larger financial implications for the government - approving RIL's Rs 45,000 investment claim - was cleared by a management committee of four people consisting of ``one junior official each from the petroleum ministry and Director General of Hydro Carbons'' and two RIL representatives. (India Times, India)
J Mishra: Govt spending and liquidity Jul 22, 2009
It would then spend the money as government expenditure and payouts, over the fiscal. Meanwhile, the central bank would buy the debt, albeit in the secondary market for reasons of policy, so that the money supply was increased. (India Times)
MoD accused of wasting millions Jul 21, 2009
The National Audit Office, which scrutinises government expenditure, said the location of secure Bowman radios being used in Afghanistan could not be accounted for at the moment. In its review of the MoD's accounts, published on Monday, it said it was vital for the MoD to have "accurate records" for all its assets due to current demands on the armed forces. (BBC News -- UK)
Minister urges workers to exercise restraint Jul 19, 2009
He said the President in ensuring that the economy took a better shape to be able to realize the better Ghana for all, had cut down on government expenditure including his own per diem to mitigate the sufferings of the masses. Accompanied by the Deputy Regional Minister, Mr Babal Jamal Mohamed, Mr. Ampofo said the economy was taking shape as bilateral donors had shown positive signs of helping the country adding that all Ghanaians would benefit from any economic gains. (Ghana Web, Ghana)
Cities 'reliant on public jobs' Jul 16, 2009
It says the vitality of many city economies is now "heavily dependent on continued high levels of government expenditure". But it estimates local authorities and many central government departments may face annual spending cuts of more than 5% in real terms between 2011 and 2014. (BBC News -- UK)
Budget impact: Equities, Bonds & Real Estate Jul 13, 2009
Priorities have been re-affirmed for agriculture, rural infrastructure, SMEs and labour-intensive export-oriented industries and social sector expenditure like NREGA. Such contra-cyclical small-ticket targeted government expenditure attempts to address the issue of a equitable distribution of income and balanced growth. So how exactly would the budget impact various asset classes. (India Times)
President Obama's 'Read My Lips' Moment Jul 12, 2009
He has given guidance and direction to the largest "bloatation" of government expenditure in the history of our nation. In fact, he has seen the amount of money spent during his mere six months in office compete with the entirety of the rest of America's history in terms of gross numbers of dollars allocated. (Townhall.com)
FIRS swoops on NNPC, NUC, others over N77b tax debt Jul 9, 2009
"Government revenue in particular suffered a serious set-back with the drastic drop in crude oil price from about $147 per barrel in July 2008 to about $41 per barrel in April 2009. It is only recently that the price of crude oil rose to about $71 per barrel. "The drop in the price of oil in the international market has no doubt affected government expenditure that the government is already thinking of reviewing the 2009 budget", he stated. Tools ? 2003 - 2009 @ Guardian Newspapers Limited (All... (Guardian News, Nigeria)
Kenya: Kibaki Rejects New State House Limos Jul 8, 2009
The Presidential Press Services (PPS) said that the decision was meant to give support to measures announced by Finance minister Uhuru Kenyatta to cut down government expenditure. The minister, in his Budget speech last month, announced that Cabinet ministers will be limited to cars of not more than 1800cc. (allAfrica.com)
Mukherjee budget bows to politics Jul 8, 2009
However, government expenditure is not a panacea and it is important that the government start to reduce the deficit to prevent inflation creeping up and to avoid higher interest rates that can prevent the nascent recovery from blooming. This budget provides no clarity as to how the government will withdraw from the market. (Asia Times Online)
'Alm aadmi' Budget Jul 7, 2009
The sense of achievement with which he spoke of government expenditure crossing Rs 10 lakh crore for the first time ever must also have left the reformers wringing their hands in despair. Rather than sounding apologetic about burgeoning spending and a fiscal deficit that's touched 6. (India Times, India)
The 2009 Budget: The Fiscal Blues Jul 6, 2009
Timid revenue mobilization drive: Indeed the budget can be said to be timid on new ideas to aggressively mobilise the needed revenue to finance government expenditure. It contains only few new direct measures to enhance tax revenue mobilization: an increase in the airport tax, the restoration of import duties on rice, wheat and cooking oil which were removed by the previous government at the height of the food crises in 2008 and an increase in tolls and rates, and fees charged by MDAs. (Ghana Web, Ghana)
Petropolitics, NDC and Hypocrisy! Jul 6, 2009
diplomatic initiatives aimed at purchasing crude oil from friendly nations at more affordable prices and under more favourable terms; cutting down on government expenditure on fuel; and hedging. Akwesi Pratts solution is for the. (Ghana Web, Ghana)
Budget 2009: More funds for welfare, infrastructure Jul 6, 2009
He said the total central government expenditure for the current fiscal year had been stepped up to Rs. 10,20,800 crore, and compared it with Rs. (India Times, India)
To The Bitter End Jul 2, 2009
In particular, he steadfastly refused to cut government expenditure significantly so that substantial reductions in income tax - which would have been popular electorally - cou 00004000 ld be achieved. But WorkChoices was a signal exception to this generally bland model. (Sydney Morning Herald -- Entertainment)
Bring in sweeping tax reforms: Economic Survey Jul 2, 2009
Economic Survey prescribes tax cuts as part of another stimulus The Economic Survey suggested tax cuts and increase in government expenditure as part of another stimulus package to help the economy overcome the global shock ... The survey said the next round of stimulus could include both tax cuts and increase in government expenditure. (India Times, India)
Mythili Bhusnurmath: Budget Sanctity Jul 1, 2009
Over the past few weeks, various estimates of the fiscal deficit (the excess of government expenditure over its revenue receipts) ranging from a conservative 6. 5% to a disheartened 8-9% have been bandied about. (India Times)
50% Indians living below poverty line: Govt panel Jul 1, 2009
The expansion of the social security net is bound to substantially increase government expenditure. At present, the Planning Commission estimates that only 28. (India Times, India -- Community News)
The State Of Our Macroeconomic Environment Jul 1, 2009
These include interest rates, the supply of money, taxes, government expenditure and exchange rates. For example, the achievement of a favourable balance of payments depends, in part, on whether changes in exchange rates allow the countrys goods and services to remain price competitive on the international markets. (Ghana Web, Ghana)
Green shoots in investment in agriculture Jun 30, 2009
The direct government expenditure in agriculture has seen a sharp rise over last five years enabling better farm credit and creation of support infrastructure like irrigation (See chart). As a result, over last few years India has seen a spurt in the capital formation in the agriculture sector including initiatives such as irrigation projects, rural roads and communication infrastructure, sales and marketing infrastructure, production of fertilizers and pesticides, agricultural education,... (India Times)
Zambia: Be Wary of Trouble Makers - Banda Jun 28, 2009
Mr Banda urged the permanent secretaries to ensure that they implemented the measures, which he announced during this week's Press conference on reducing Government expenditure ... The president said the money, which would be saved after the reduction on Government expenditure, would be used for developmental projects aimed at eradicating poverty. (allAfrica.com)
Myths, Lies and Stupidity About Health Care Jun 25, 2009
And the government programs Medicare and Medicaid will comprise a huge chunk of the federal budget in ten years, more than any other government expenditure. Why these exponentially higher costs. (Human Events Online)
North Korean ship poses challenge for US allies along its route Jun 24, 2009
Perhaps half of government expenditure goes on the military, affording room for increased spending on weapons, if they are on sale. "They're certainly interested in getting the gear, but they're been greatly restrained by where they can get it from," he says. (Christian Science Monitor -- World)
China's fiscal revenue tops 6.13 trln yuan last year Jun 24, 2009
Central government expenditure totaled 459. 3 billion yuan, up 21. (Xinhuanet, China)
World Bank raises China's 2009 growth forecast to 7.2% Jun 18, 2009
More importantly, bank lending in the first part of 2009 has been much larger than expected," the World Bank said. "Government expenditure has also substantially outpaced expectations in the first five months. In this light, we forecast (economic) growth of 7. (Channelnewsasia.com)
Press Release: IMF Mission Concludes Article IV Consultation Discussions with Timor-Leste Jun 17, 2009
The mission has been concerned about the very rapid increase in government expenditure over the past two years but welcomes the authorities intention to reduce the spending envelope in the 2010 budget. This commitment towards a sustainable fiscal path should be maintained going forward. (IMF News)
Debt worries drive steep fall in vehicle sales Jun 3, 2009
Online Edition Powered By IOL. DisplayAds('SkyLEFT',17,). (Business Report, South Africa)
EDIT: A Fine Balance Jun 1, 2009
Finance minister Pranab Mukherjee recently said that "prophets of doom" shouldn't be overly perturbed by government expenditure, which is essential to maintain India's growth momentum. The latest growth statistics appear to reinforce his case, since they seem to be due to the combined effect of fiscal and monetary policies. (India Times, India)
100-days agenda faces 'tight' Budget May 22, 2009
If the Budget cannot be passed before July 31, not just the grand 100-days programme, even routine government expenditure would run into trouble. As a safeguard against such a situation where the government finds itself without the authority to spend money, the finance ministry has initiated moves to put together a second vote-on-account, which would authorise the government to make routine expenditure till September 30. (India Times)
