Hungarian economic stimulus measures will leave gaps

2016 ◽  
Keyword(s):  
Economic Growth ◽  
Public Sector ◽  
Unemployment Rate ◽  
Value Added ◽  
The State ◽  
Gdp Growth ◽  
State Budget ◽  
Content Type ◽  
The Third ◽  
The Government

Subject The series of tax-related measures that the Fidesz government hopes will boost competitiveness and support GDP by reducing labour shortages. Significance Following disappointing economic growth of just 2.2% on an unadjusted basis in the third quarter, owing to a larger-than-expected drop in investment, Fidesz’s latest tax-related measures are well-timed, since the economy is expected to slow in the final quarter of 2016. The government insists no amendments will be needed in the state budget, and is now forecasting 3.1% GDP growth in 2017, after 2.5% this year. Impacts Value-added tax cuts and rises in public-sector minimum wages will cause inflation to rise faster in 2017, as deflationary trends disappear. The unemployment rate is expected to bottom out as workers return from neighbouring countries. The government will need to make complementary reforms in education and privatising the state-dominated energy and telecoms sectors. If it does not, competitiveness as measured by wage growth and productivity will remain subdued.

Nigeria's hefty budget will not dispel investor unease

2016 ◽  
Keyword(s):  
Central Bank ◽  
State Government ◽  
Negative Impact ◽  
Tax Compliance ◽  
Value Added ◽  
Short Term ◽  
State Budget ◽  
Content Type ◽  
The Government ◽  
Final Text

Subject Outlook for Nigeria's 2016 state budget. Significance The Senate this week will forward President Muhammadu Buhari the revised 2016 state budget, which it passed on March 23. Buhari says that he will assess it "ministry by ministry" before signing it into law to ensure that there are no irregularities in the final text. The 6.06-trillion-naira (30.6-billion-dollar) spending plan is 17 billion naira lower than the initial budget proposed by the government in December 2015. Impacts Buhari is unlikely to consider raising the value added tax given its effect on living costs, which would hurt the APC electorally. The central bank will likely keep currency restrictions in place, at least in the short term, despite their negative impact on firms. The tax compliance drive will be most effective in Lagos, due to heavy investment in collection capacity by the state government.

Ecuador unlikely to scrap dollarisation

2015 ◽  
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Oil Prices ◽  
The State ◽  
Content Type ◽  
Severe Strain ◽  
The Future ◽  
The Government ◽  
The Right ◽  
Oil Revenues

Subject The future of dollarisation in a context of low oil prices. Significance Oil revenues have underpinned the popularity of President Rafael Correa's government by enabling spending on welfare, infrastructure and development that has boosted economic growth. The collapse of world oil prices has placed the dollar-denominated economy under severe strain and raised doubts about the future of dollarisation in Ecuador. Impacts The fiscal challenges the government is facing will provide the opposition with an opportunity to strengthen in 2015. The right will play on concerns over the management of the economy, the scale of public debt and the size of the state. The left will attack the government for failing to reduce Ecuador's reliance on oil and undertake wider and deeper reforms.

Israel’s government will likely limp through crisis

2020 ◽  
Keyword(s):  
Healthcare System ◽  
Prime Minister ◽  
Public Trust ◽  
The State ◽  
Trust In Government ◽  
State Budget ◽  
Content Type ◽  
The Government

Significance Resurgent COVID-19 cases and policy chaos have weakened Netanyahu politically and are undermining public trust in government. Meanwhile, allies of the prime minister have implied that he may seek to trigger fresh elections later this year amid frustrations over impasses within his government. Impacts Despite resurgent case numbers, the healthcare system appears able to cope with the additional burdens. The government will be reluctant to order a second full lockdown, fearing the economic hit and that people may simply ignore the rules. The preoccupation with the pandemic has delayed addressing other issues, most notably the state budget.

Unrest and COVID-19 will reduce South African growth

2021 ◽  
Keyword(s):  
Economic Growth ◽  
South African ◽  
Unemployment Rate ◽  
Energy Sector ◽  
Economic Recovery ◽  
Medium Term ◽  
Content Type ◽  
High Unemployment ◽  
The Government

Significance This chokes off an unexpectedly strong economic recovery in the first half of 2021. Meanwhile, unemployment has hit a record high at 35%, or 47% according to the expanded definition which includes people who have given up looking for work. Impacts Without higher economic growth, the unemployment rate will not substantially improve. The combination of low growth and high unemployment heightens the chance of further violent unrest. The government will have difficulty sticking with debt reduction plans without further dampening growth. Planned reforms in the energy sector could ease some of the country’s electricity woes in the medium term.

Managing the off-budget Funds: Issues and Policies in Vietnam

2020 ◽  
Vol 36 (1) ◽  
Author(s):  
Hoang Xuan Hoa ◽  
Trinh Mai Van
Keyword(s):  
Economic Growth ◽  
Financial Institutions ◽  
The State ◽  
Social Goals ◽  
The Self ◽  
Policy Framework ◽  
Unified Framework ◽  
State Budget ◽  
Different Types ◽  
The Government

In Vietnam, there are currently more than 40 State off-budget funds (off-budget funds) operating. These are special financial institutions owned by the government that are not part of the State budget and that established by the State to mobilize additional resources from the society to facilitate the determined tasks. In recent years, off-budget funds have made important contributions to ensuring social goals, attracting investment from domestic and foreign sources and providing additional revenue to the State budget to support economic growth and social development. However, according to many assessments, the tasks of managing, monitoring and evaluating off-budget funds are still inadequate. Moreover, because the policy framework for off-budget funds are still imperfect, these funds could not meet the expected efficiency level. There are issues relating to the “self-controlling” spending problems, lack of unified framework and mechanisms governing different types of off-budget funds, and the unique charter of each fund. These issues have been causing the problems of overlapping objectives, tasks, revenue and expenditure activities of off-budget funds with the State budget. In some cases, off-budget funds are even relying on the annual state budget that fragmenting the State’s resources. This paper presents an overview of the current situation and governing policies of the off-budget funds in Vietnam, as well as analyzes some limitations and shortcomings of such funds and makes suggestions for solutions to govern and manage off-budget funds efficiency expecting by the Party and the government.

Fixing Azerbaijani bank may dent sovereign's image

2017 ◽  
Keyword(s):  
Economic Growth ◽  
Sovereign Debt ◽  
Banking Sector ◽  
Banking System ◽  
The State ◽  
Content Type ◽  
The Government

Significance If two-thirds of creditors agree to the scheme by a July 13 meeting, the government will exchange IBA debt for sovereign loans but it has made it clear it does not bear responsibility for the state-owned bank's liabilities. Impacts Banking sector instability has negative implications for confidence and economic growth. The potential increases in sovereign debt appear manageable. Reducing the size of IBA will bring more competition to the banking system.

scholarly journals Analisis Dampak Sukuk pada Perekonomian Nasional di Tengah Wabah Covid 19

2020 ◽  
Vol 10 (1) ◽  
pp. 55-68
Author(s):  
Binti Nur Asiyah ◽  
Indah Nur Aini ◽  
Rama Prasetya Mahardika ◽  
Lyliya Nurul Laili
Keyword(s):  
Economic Growth ◽  
Financial Institutions ◽  
The State ◽  
State Budget ◽  
Long Run ◽  
Finance Development ◽  
Islamic Financial Institutions ◽  
The Government ◽  
The Impact ◽  
New Jobs

Sukuk is a form of investment that has an impact on the national economy which is currently weakening due to the Covid-19 pandemic. Covid 19 has had an impact on the faltering of the people's economy from business to financial institutions (sharia and conventional). The state has the need to fulfill the state budget in order to address the problem of the impact of covid 19 quickly. This paper is intended to analyze the impact of sukuk on economic growth during the covid pandemic 19. The process of collecting data is done by analyzing data observed through OJK statistics and collecting various information related to covid-19 and the data are analyzed qualitatively. Based on the results of the study it was found that Sukuk became a source of funds for the government to finance development, thus creating new jobs for the community in the long run. Sukuk provide benefits for the liquidity of Islamic financial institutions due to the impact of covid 19, and also investment facilities for the community. Key Words: Impact; Sukuk; national economiy; Covid-19.   Abstrak: Sukuk termasuk bentuk investasi yang memberikan dampak bagi perekonomian nasional yang saat ini melemah karena adanya pandemi Covid-19.Covid 19 telah memberikan dampak bagi tersendatnya perekonomian masyarakat mulai bisnis hingga lembaga keuangan (syariah dan konvensional). Negara memiliki kebutuhan pemenuhan APBN guna menjawab masalah dari dampak covid 19 secara cepat. Paper ini dimaksudkan untuk menganalisis dampak sukuk bagi pertumbuhan ekonomi di masa pandemi covid 19. Proses pengumpulan data dilakukan dengan cara menganalisis data yang diobservasi melalui statistik OJK dan mengumpulkan berbagai informasi terkait covid-19 dan data dianalisis secara kualitatif. Berdasarkan hasil pengkajian diperoleh bahwa Sukuk menjadi sumber dana bagi pemerintah untuk membiayai pembangunan, sehingga menciptakan lapangan kerja baru bagi masyarakat dalam jangka panjangnya. Sukuk memberikan kemanfaatan bagi likuiditas lembaga keuangan syariah akibat dampak covid 19, dan juga sarana investasi bagi masyarakat.. Kata Kunci : Dampak;  Sukuk; Perekonomian Nasional; Covid-19.

Living cost woes to shape Zambia's pre-poll politics

2015 ◽  
Keyword(s):  
Public Sector ◽  
Tax Revenue ◽  
Gdp Growth ◽  
Power Capacity ◽  
State Spending ◽  
Content Type ◽  
Fuel Prices ◽  
The Government ◽  
Wage Increases ◽  
Living Cost

Significance This is due to spending on imported electricity and fuel, prices of which have risen due to the falling kwacha currency (down 40% to the dollar during 2015). The deteriorating economy raises the likelihood of escalating protests. Impacts Debt servicing costs, already 25% of state spending, will likely rise as the government takes on new debt and the currency slumps. Cooling GDP growth means that Zambia's non-tax revenue and VAT mobilisation targets (rises of 200% and 50% respectively) will disappoint. Public sector wage increases (of 9-29%) announced in October will help consolidate PF support in this influential constituency. Investments in new power capacity may soften power woes, but only in the longer term due to lengthy project timeframes.

Coalition party will decide Slovak government’s fate

2018 ◽  
Keyword(s):  
European Commission ◽  
Rule Of Law ◽  
Social Democracy ◽  
The State ◽  
Gdp Growth ◽  
Automotive Sector ◽  
Police Chief ◽  
Content Type ◽  
The Rule Of Law ◽  
The Government

Significance The president’s statement reflects a widespread crisis of trust in the government a week after investigative journalist Jan Kuciak was found shot dead with his fiancee Martina Kusnirova. It was the first known murder of a journalist in Slovakia. While the opposition has demanded the resignation of Interior Minister Robert Kalinak and his police chief Tibor Gaspar, the coalition government’s stability is most severely threatened by resignations within its leading party, Direction-Social Democracy (Smer-SD), and its moderate coalition partner, Most-Hid. Impacts Relations between the government and the non-party president will deteriorate following the latter’s call for early elections. The international spotlight has again been thrown on the state of the rule of law and corruption in Slovakia. Despite concerns, Slovakia continues to attract FDI, particularly into the automotive sector. Slovakia’s continued fast GDP growth (the European Commission forecasts 4% for 2018) may buttress support for the government.

Lebanon’s belated budget will face political hurdles

2017 ◽  
Keyword(s):  
Economic Growth ◽  
Public Sector ◽  
Negative Impact ◽  
Capital Inflows ◽  
Political Crisis ◽  
Election Law ◽  
Content Type ◽  
The Government

Significance The government is struggling to agree a budget that will allow an increase in public-sector salaries, financed by higher taxes and duties. If passed, it would be the first budget to be approved since 2005, marking the end of the country’s lengthy political crisis. In the interim, the government has covered spending by ministries without a formal budget. Impacts If the tax and duty increases were implemented, this could be a drag on economic growth, which might also increase the debt/GDP ratio. Higher taxes on deposits, property and alcohol could have a negative impact on capital inflows and tourism. Failure to approve the budget would suggest similar difficulties in agreeing a new election law before parliamentary polls due in May.

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