Jamaican budget offers stability, but risks persist

2015 ◽  
Keyword(s):  
Public Sector ◽  
Fiscal Year ◽  
Investment Climate ◽  
Content Type ◽  
Finance Minister ◽  
The Government ◽  
Economic Outlook

Subject Jamaica's economic outlook. Significance The government has worked hard to stabilise the economy after several years of uncertainty. Its policies for the next fiscal year, presented by the finance minister on March 12, set out plans to maintain stability and lay the groundwork for re-invigorating growth. Impacts Sluggish growth will only be boosted by improved productivity and a better investment climate. The debt-to-GDP ratio is unlikely to fall to 100% -- until at least 2020. Continued public sector wage freezes risk undermining support for the economic programme.

Kenya budget strains escalate debt distress risks

2015 ◽  
Keyword(s):  
Real Estate ◽  
Interest Rates ◽  
Fiscal Year ◽  
Content Type ◽  
Revenue Collection ◽  
Finance Minister ◽  
Fiscal Space ◽  
The Government ◽  
Bank Risks ◽  
Economic Outlook

Subject Kenya's economic outlook. Significance Finance Minister Henry Rotich on October 21 announced intentions to implement austerity measures, but without providing details. The July budget for fiscal year 2015-16 revealed shortfalls in revenue collection, expenditure overruns and higher domestic borrowing costs. While thin on details, Rotich's announcement signals that the government may be acknowledging the liquidity crunch that has concerned the Central Bank of Kenya (CBK) since June. Impacts Mounting debt obligations could narrow fiscal space available for growth-enhancing infrastructure. Growth expectations for 2015-16 of 6.0% (compared to 5.3% in 2014-15) are over-ambitious. High domestic interest rates may spur non-performing loans, raising bank risks and hurting real estate growth.

Zimbabwe faces uphill task normalising donor relations

2015 ◽  
Keyword(s):  
External Debt ◽  
Job Creation ◽  
Development Plan ◽  
Content Type ◽  
Finance Minister ◽  
Donor Relations ◽  
Labour Costs ◽  
The Government ◽  
Economic Outlook

Subject Zimbabwe economic outlook. Significance On November 26 Finance Minister Patrick Chinamasa presented the 2016 budget articulating the government's IMF-backed plan to clear the backlog of external debt arrears to international creditors. The aim is to normalise relations with Western donors after 15 years of isolation. The government faces a deepening employment crisis, an unfunded development plan and deflationary risks. Impacts The Labour Amendment Bill adopted in August will raise labour costs and discourage job creation. Some deals signed during Xi's visit such as funding for fibre optic broadband may improve long-term competitiveness. However, others such as an agreement for a new Chinese-built parliament will add to the debt load.

Moldovan government will prioritise Western assistance

2021 ◽  
Keyword(s):  
Public Sector ◽  
Budget Deficit ◽  
Prime Minister ◽  
Governance System ◽  
Content Type ◽  
The Public ◽  
Finance Minister ◽  
The Creation ◽  
The Government ◽  
The Imf

Significance The government is headed by Prime Minister Natalia Gavrilita, a leading PAS figure and former finance minister. This completes the creation of a strong functioning governance system under President Maia Sandu and her PAS allies. Impacts The budget deficit will encourage the government to accept conditions set by the IMF and EU. Unprecedented political synergies should foster swift, more cohesive reforms. A comprehensive campaign against corruption will be disruptive for the public sector. Finding competent, uncorrupt people to take senior positions and staff institutions will be a challenge.

Papua New Guinea investment climate deteriorates

2015 ◽  
Keyword(s):  
Natural Gas ◽  
Papua New Guinea ◽  
Aggregate Demand ◽  
New Guinea ◽  
Investment Climate ◽  
Medium Term ◽  
Content Type ◽  
Gdp Growth Rate ◽  
The Government ◽  
Economic Outlook

Subject Political and economic outlook for Papua New Guinea. Significance Papua New Guinea (PNG) has benefitted from over a decade of buoyant economic growth, culminating in a forecast GDP growth rate of 15% in 2015. However, the outlook for PNG's major commodity exports (natural gas and gold) is now declining as aggregate demand for resources falls in China and elsewhere in the region. This will lead to a fall in the growth of overall government revenues. Impacts The price for spot market liquefied natural gas exports to Asia is likely to decline. The government will extend its overall fiscal deficit despite announced intentions to reduce debt under the medium-term fiscal strategy. The much-publicised sovereign wealth fund, announced several times but still not implemented, will continue to languish. Diversifying agriculture and fisheries to provide more options for disadvantaged rural populations and SME development will be slow. Foreign investment in PNG will slow down, particularly in gold, copper and other areas of mining.

Focus in Egypt will shift to direct investment

2018 ◽  
Keyword(s):  
Direct Investment ◽  
Economic Transition ◽  
Political Stability ◽  
Portfolio Investment ◽  
Investment Climate ◽  
Foreign Exchange Reserves ◽  
Content Type ◽  
The Government ◽  
Hot Money ◽  
Economic Outlook

Subject Economic outlook. Significance Egypt has undergone a sharp, IMF-guided economic transition over the last two years. This has seen a devaluation of the Egyptian pound, sizeable inflows of portfolio investment and a recovery of foreign exchange reserves to record levels. The government has also introduced a raft of new laws designed to encourage foreign direct investment (FDI), although so far little has been invested in the non-oil economy. Impacts A better investment climate may attract FDI that might have gone to neighbouring countries such as Jordan. The success or failure of investment plans will factor into political stability risk. Temporary stability fuelled by hot money inflows and debt could store up future problems in the event of a crisis.

The South African public service wage bill deadlock in 2021: living on the edge

2021 ◽  
Vol 11 (4) ◽  
pp. 1-15
Author(s):  
Marianne Matthee ◽  
Albert Wöcke
Keyword(s):  
Fiscal Policy ◽  
Learning Outcomes ◽  
South African ◽  
Public Service ◽  
Subject Area ◽  
The South ◽  
Content Type ◽  
Academic Level ◽  
Finance Minister ◽  
The Government

Subject area Macro-Economics. Study level/applicability Undergraduate and MBA. Case overview The COVID 19 pandemic-related restrictions devastated South Africa’s economy in 2020 and although the restrictions were generally less damaging than in 2020, the government had to budget for vaccinations and rebuild the economy. Public service unions had just announced that they were demanding an increase of 4% above inflation for their members and that they were preparing for a strike. They were bitter about the fact that the South African Government had withdrawn from the last year of a three-year wage agreement in February 2020 and their members had not received an increase for the two years. These demands and Finance Minister Mboweni’s response to them had to consider the structural and cyclical impact on the fiscus and economy. Expected learning outcomes The learning outcomes are as follows: understand the general objectives of fiscal policy and stakeholders’ interests; understand the tradeoffs in fiscal policy and the implications of taking a position; and make recommendations based on reasoned judgements about those recommendations. Complexity academic level Undergraduate and MBA level courses on Macro Economics. Supplementary materials Teaching notes are available for educators only. Subject code CSS 10: Public Sector Management.

Fraud prevention initiatives in the Nigerian public sector

2018 ◽  
Vol 25 (2) ◽  
pp. 527-544 ◽  
Author(s):  
Rabiu Abdullahi ◽  
Noorhayati Mansor
Keyword(s):  
Public Sector ◽  
Structural Equation ◽  
Equation Modeling ◽  
Control Mechanisms ◽  
Fraud Triangle ◽  
Fraud Prevention ◽  
Content Type ◽  
The Public ◽  
The Government ◽  
Triangle Theory

Purpose Detecting and preventing fraud are challenging and risky tasks, especially in a fast developing economy such as Nigeria. The efforts become crucial in the government sectors, as they involve public’s trust and resources. The purpose of this study is to examine the relationships between the fraud incidence and the elements of fraud triangle theory (FTT) with the aim of combating current fraud outrages in the Nigerian public sector. Design/methodology/approach A survey was conducted and 302 questionnaires were distributed to the staff of the departments of accounting, internal auditing and investigation of ten selected ministries, departments and agencies of Kano State, Nigeria. Structural equation modeling (SEM) was used to analyze the data. Findings The study reveals a significant relationship between three elements of FTT and fraud incidences in the Nigerian public sectors (p-value < 0.001 for pressure and opportunity and p-value = 0.024 for rationalization). Practical implications The findings of the study are useful for forensic accountants and the Nigerian anti-graft bodies to enhance existing control mechanisms in fraud prevention initiatives. The research also contributes to bridge the gap in academic theory and empirical study related to FTT. Social implications Fraud scandals can cause public’s frustration, damage the reputation and integrity of the ruling government and result in negative image of the public sector. Originality/value Accordingly, the study suggests a salary scale reform (SSR) in the Nigerian public sector and improvement in fringe benefits to increase employees’ standard of living. The study concludes with recommendations to enhance fraud awareness and training programs to the government employees.

India’s 5G auction will boost Reliance’s digital plans

2021 ◽  
Keyword(s):  
Public Sector ◽  
Business Strategy ◽  
Financial Support ◽  
Content Type ◽  
Public Sector Banks ◽  
Spectrum Auction ◽  
Floor Price ◽  
The Government

Significance This came after the government announced plans for a 4G spectrum auction in March 2021, after a five-year gap. There is growing speculation that this will be followed by an auction of 5G spectrum later in the year. Impacts Reliance’s lead on 5G will boost its broader digital business strategy. New financial support to indebted telcos will help to avoid further strain on public sector banks. Data tariffs are likely to remain competitive in India, even after a new floor price.

Doing indigenous research in Vietnam public sector organisations: challenges and recommendations

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tho Alang
Keyword(s):  
Public Sector ◽  
Indigenous People ◽  
Data Access ◽  
Indigenous Populations ◽  
Employee Voice ◽  
Indigenous Research ◽  
Content Type ◽  
Indigenous Voice ◽  
The Government ◽  
Sensitivity Data

PurposeThis paper provides critical insights into the contextual challenges of researching indigenous people in Vietnam's public sector organisations.Design/methodology/approachDrawing on a study of indigenous employee voice and inclusion in public sector organisations in three locations in the Central Highlands region, the researcher engages in self and methodological reflections to explain the challenges faced.FindingsThis paper identifies and discusses the challenging issues of political sensitivity, data access, availability and consistency of quantitative data, and characteristics of indigenous participants in the context of Vietnam.Practical implicationsThis paper benefits directly those who are interested in researching Vietnam's indigenous people in future. Further, it contributes to the global conversation on the challenges of conducting indigenous research, particularly in reaching out to indigenous populations and obtaining reliable data in order to capture indigenous voice and experiences.Originality/valueThere is a dearth of knowledge of indigenous research in non-Western countries where indigenous people are not recognised officially by the government. This paper addresses this knowledge gap by focusing on cultural, political and societal issues of indigenous research from Vietnam.

Notes and Comments

1987 ◽  
Vol 12 (4) ◽  
pp. 51-54
Author(s):  
Sanat Mehta
Keyword(s):  
Social Justice ◽  
Public Sector ◽  
Corporate Strategy ◽  
Public Enterprises ◽  
Strategic Competence ◽  
Finance Minister ◽  
The Government ◽  
High Level

Vikalpa publishes three responses to K R S Murthy's article “Do Public Enterprises Need a Corporate Strategy?” (April-June 1987). Professor Laxmi Narain agrees with Murthy's argument that the strategic competence of public sector enterprises is low. However, he questions whether the conditions and context of high level competence can be laid down as requirements for formulating a corporate strategy. He argues that public enterprises do need a strategy while their environment and competence would decide the extent of their success. Agreeing with Murthy's arguments, Professor S K Chakraborty suggests that the government should withdraw from managing the enterprises. Former Finance Minister of Gujarat Shri Sanat Mehta points out that chairmen and managing directors of the profit making public enterprises behave almost like Rajas and waste resources. He states that public enterprises have a role to play in spreading social justice.

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