Algeria to raise spending despite revenue squeeze

2017 ◽  
Keyword(s):  
Social Investment ◽  
Content Type ◽  
Investment Projects ◽  
Oil Revenue ◽  
Domestic Debt ◽  
Target Date ◽  
Oil Sector ◽  
The Government ◽  
Set Up ◽  
Stabilisation Fund

Significance The government has depleted the Fonds de Regulation des Recettes (FRR -- Algeria's oil stabilisation fund) that it set up in 2000 to help finance fiscal deficits, and announced plans to use “unconventional financing”, or direct borrowing from the central bank, to cover the deficit and meet domestic debt obligations during a five-year period of structural reforms, aimed at achieving budget equilibrium. Impacts Unblocking funds for social investment projects such as housing will help to generate growth and jobs in the non-oil sector. The government aims to keep a lid on current spending, and is garnering more non-oil revenue from tax hikes that went into effect in 2017. The projected fiscal deficit will be 9% of GDP in 2018, and the target date for balancing the budget has been extended from 2019 to 2023.

Oil is South Sudan's last economic lifeline

2015 ◽  
Keyword(s):  
The United States ◽  
Political Crisis ◽  
National Unity ◽  
Direct Role ◽  
Content Type ◽  
Oil Sector ◽  
The Government ◽  
Set Up ◽  
The Impact ◽  
Ruling Party

Subject Economic outlook and the impact of conflict. Significance July 11 marks the fourth anniversary of South Sudan's independence in 2011. Although the country has the modest advantage of a larger oil sector than most neighbouring countries, the country remains severely underdeveloped, with meagre infrastructure and high levels of poverty. In 2013 a political crisis at the centre of government led to a split in the ruling party and the eruption of an armed conflict with the Sudan People's Liberation Movement-In Opposition (SPLM-IO) which has continued up to the present. Impacts The breakdown of peace talks between the government and SPLM-IO in March have ended plans to set up a national unity government by July. The new mediation framework involves a more direct role for donors, including the United Kingdom, Norway and the United States. Progress on reuniting parts of the ruling party may ease pressure on negotiations with the SPLM-IO.

Agripreneurship development: a strategy for revamping Nigeria’s economy from recession

2017 ◽  
Vol 8 (4) ◽  
pp. 474-483 ◽  
Author(s):  
Innocent Otache
Keyword(s):  
Economic Crisis ◽  
Design Methodology ◽  
Agricultural Sector ◽  
Content Type ◽  
Current Economic Crisis ◽  
Leadership Failure ◽  
Oil Sector ◽  
The Government ◽  
Creativity And Innovation ◽  
Practical Implications

Purpose The purpose of this paper is to explore agripreneurship development as a strategy for economic growth and development. Design/methodology/approach Though a few related literature were reviewed, this paper relies heavily on the author’s viewpoint regarding how Nigeria can grow and develop its economy through agripreneurship development. Findings The present economic challenges that Nigeria is facing are blamed on overdependence on the oil sector, bad governance, corruption, leadership failure, policy inconsistency, overdependence on imported goods and ostensible neglect of the agricultural sector. Also, policymakers, economic analysts and the government have advocated strongly for diversification of the economy. Besides, there is a consensus among scholars, economic analysts and policymakers that “agriculture is the answer.” Research limitations/implications This paper addresses specifically one sector of the economy – the agricultural sector. On the other hand, economic crisis needs to be addressed holistically by resolving specific issues that confront different sectors of the economy. Practical implications This paper has some insightful policy and practical implications for the Nigerian Government and Nigerians. The government and Nigerians need to take practical steps to grow and develop the economy. On the part of the government, apart from the need to transform the agricultural sector by allocating enough funds to it, the government should establish well-equipped agripreneurship development centers and organize periodically agripreneurship development programmes for the main purpose of training and developing both current and potential agripreneurs who will be able to apply today’s agricultural techniques and practices which involve a great deal of creativity and innovation for a successful agribusiness. The federal government should integrate agripreneurship education into Nigeria’s education system. Similarly, the Nigerian people, particularly the youths or graduates should be encouraged to choose agribusiness as a career. Originality/value While previous papers have offered different solutions to the current economic crisis that Nigeria is experiencing, ranging from economic to structural reforms, this paper differs significantly from others by recommending specifically agripreneurship development as a strategy for revamping Nigeria’s economy from its current recession. Moreover, there is a dearth of literature on agripreneurship and agripreneurship development. This paper therefore fills the literature gap.

The cooperative-collective sharing arrangement of gated communities in Malaysia

2015 ◽  
Vol 33 (4) ◽  
pp. 330-347 ◽  
Author(s):  
Ainur Zaireen Zainudin ◽  
Khadijah Hussin
Keyword(s):  
Peninsular Malaysia ◽  
Gated Communities ◽  
Gated Community ◽  
Local Policy ◽  
Internal Governance ◽  
Content Type ◽  
Operational Mechanism ◽  
The Government ◽  
Set Up

Purpose – The purpose of this paper is to discover the operational character of gated communities in Malaysia. Design/methodology/approach – This paper is based on a small case study conducted in Iskandar Malaysia, an economic development region located in the southern part of Peninsular Malaysia. In the case study, 12 housing developers were interviewed, involving 32 gated communities altogether. The investigation covered the identification of the governing document used in operating a gated community, the operational purposes and scopes, the arrangement for collection of maintenance fee, and the internal governance within the gated communities. Findings – From the analysis, it was found that two types of gated communities exist in the case study areas, namely the strata gated community scheme, and the gated community scheme (GACOS). The operational mechanism for the former is through a set of rules enforced by the government. Meanwhile, the latter is based on the arrangement set up either by the developer, where legal agreement is applicable, or through the consensus among homeowners. However, despite these differences, both mechanisms share the same intention, that is to operate the gated community based on cooperative-collective sharing arrangement. Research limitations/implications – Despite the vulnerability of GACOS enclosure components, the case study revealed that the number of GACOS is still bigger than the strata gated community scheme. Since this perspective is lacking in this paper, it is suggested that more studies are conducted to explain the reasons behind the indicated phenomenon. Originality/value – The most important contribution of the paper is to highlight the importance of gating experience that is heavily influenced by the local policy setting to determine the survival of a gated community; thus, demonstrating how different they are from each other.

scholarly journals The hierarchy of public project governance frameworks

2018 ◽  
Vol 11 (1) ◽  
pp. 174-197 ◽  
Author(s):  
Gro Holst Volden ◽  
Bjorn Andersen
Keyword(s):  
Portfolio Management ◽  
Qualitative Assessment ◽  
Public Project ◽  
Content Type ◽  
Investment Projects ◽  
Project Governance ◽  
Internal Focus ◽  
Management Literature ◽  
The Government ◽  
The Relationship

Purpose The purpose of this paper is to study public project governance frameworks in various ministries and agencies in Norway, following the introduction of such a framework on the topmost level (i.e. the cabinet) which applies to the very largest projects. Design/methodology/approach The study is methodologically designed as a qualitative assessment of project governance frameworks that apply to state-funded investment projects in selected sectors, based on data gathered through document reviews and interviews. Findings The study finds that all of the agencies have introduced their own project governance frameworks, which are basically consistent with the recommendations from the project management literature and with the cabinet’s overall requirements in Norway. By contrast, only one ministry has taken a formalized role as a project owner. Governance tasks thus seem to be extensively delegated to the subordinate agencies. This even includes strategic tasks such as project selection and portfolio management, and implies there is a risk that public project governance has a narrow and internal focus. Originality/value The paper is a first step toward a better understanding of public project governance as a hierarchical system and the relationship between project owners on three levels, the cabinet, the sectoral ministry, and the government agency.

Iran's oil production will stabilise

2016 ◽  
Keyword(s):  
Oil Production ◽  
Oil Products ◽  
Content Type ◽  
Refined Oil ◽  
Market Opening ◽  
Oil Revenue ◽  
Stable Production ◽  
International Sanctions ◽  
Oil Sector ◽  
International Investors

Significance The oil sector is bouncing back after the lifting of international sanctions. Production has risen from an average of 2.8 million bpd during 2015, and is now approaching pre-sanctions levels. The country has finalised new-style petroleum contracts offering more favourable terms to international investors. Impacts Banking, compliance and sanctions issues will gradually ease, reducing pressure on the oil sector. A stable production outlook will facilitate efforts to agree an OPEC production freeze. Oil revenue in 2016 could reach 31.5 billion dollars, 75% up on 2015, easing the fiscal situation. Exports of petrochemicals and refined oil products will rise, on the back of higher oil output and market opening.

Nigerian oil rebound vital for economic recovery

2017 ◽  
Keyword(s):  
Niger Delta ◽  
Agricultural Sector ◽  
Economic Recovery ◽  
Content Type ◽  
Oil Companies ◽  
China And India ◽  
Relative Safety ◽  
Oil Sector ◽  
The Government ◽  
State Interventions

Significance Despite such controversies, the government is pinning hopes for economic recovery on restoring hydrocarbons production alongside longstanding plans to reduce the country’s dependence on oil. While large international oil companies are retreating to the relative safety of the deep offshore, the government will look to new partnerships with China and India for large infrastructure projects. Impacts Employment gains in the oil sector will be marginal compared to increases in the agricultural sector. Recent state interventions against oil majors are unlikely to deter future investment. Counter-insurgency operations against Boko Haram could distract from government peace efforts in the Niger Delta.

Nigerian banks will struggle to repeat 2017 results

2018 ◽  
Keyword(s):  
Small Businesses ◽  
Banking Sector ◽  
Oil And Gas ◽  
National Elections ◽  
Treasury Bills ◽  
Content Type ◽  
Balance Sheets ◽  
Domestic Debt ◽  
The Government ◽  
Run Up

Subject Nigerian banking sector. Significance Some of Nigeria’s largest banks made significant profits in 2017 despite the country’s recession, benefitting mainly from high-yielding Nigerian Treasury Bills. This is unlikely to be repeated this year, with yields falling as the government replaces expensive domestic debt with cheaper Eurobonds, and banks attempt to shore up their balance sheets. Higher oil prices will help this process, yet many smaller banks are struggling to replicate their larger rivals' success. Impacts A restructuring of telecommunications company 9Mobile’s loan would benefit banks' non-performing loan numbers. Any uptick in Niger Delta insecurity could negatively impact banks, as most have significant loans with the upstream oil and gas sector. The CBN may issue more loans via commercial banks to small businesses and farmers in the run-up to next year's national elections.

Pemex business plan draws scepticism in Mexico

2019 ◽  
Keyword(s):  
Federal Government ◽  
Oil Prices ◽  
Business Plan ◽  
Content Type ◽  
Public Finances ◽  
Rating Agencies ◽  
Insurmountable Obstacle ◽  
Oil Sector ◽  
The Government ◽  
Substantial Drop

Significance It has proven a disappointment, failing to explain how ambitious targets will be met, while confirming the reversal of the oil sector liberalisation enacted by the Pena Nieto administration, which had been showing some promising results. Impacts The government cannot mount a massive rescue of Pemex without endangering its own finances. Any substantial drop in global oil prices could present an insurmountable obstacle for Pemex, and a significant blow to public finances. A downgrade of Pemex’s debt could push rating agencies to do the same with the bonds of the federal government.

Nigerian agricultural growth softens oil shock

2015 ◽  
Keyword(s):  
Food Production ◽  
Agricultural Sector ◽  
Government Policies ◽  
Content Type ◽  
Agricultural Growth ◽  
Agricultural Transformation ◽  
The Past ◽  
Oil Revenue ◽  
Oil Shock ◽  
The Government

Subject The outlook for Nigeria's agricultural sector. Significance The success of government policies on agriculture was central to the Finance Ministry's reassurances on Nigeria's ability to weather the oil price shock and increase non-oil revenue. The government has presided over a marked increase in food production over the past four years under the Agricultural Transformation Agenda (ATA), arguably making it one of the main policy achievements of the Goodluck Jonathan administration. Impacts Commercial interest in African agribusiness often falls short given the difficulty of making smallholders competitive in dislocated markets. Input subsidy policies (fertiliser, seeds) often remain inseparable from political appeals to rural electorates. Such policies are not always amenable to 'transformative' interventions -- and in some cases, will actively distort them.

Oil prices will increase Ecuador's fiscal pressures

2015 ◽  
Keyword(s):  
Monetary Policy ◽  
Budget Deficit ◽  
Oil Prices ◽  
Content Type ◽  
Full Control ◽  
Public Resources ◽  
Oil Sector ◽  
The Government ◽  
The Impact ◽  
Impact Of Falling

Significance The collapse of world oil prices has brought fiscal policy sharply into focus in Ecuador. At a time when the budget deficit is widening and the opposition is strengthening, the government faces the prospect of receiving significantly less income from the oil sector than anticipated. The fallout from the plunge of oil prices coincides with the beginning of the constitutional debate that could allow the re-election of President Rafael Correa in 2017. Impacts The government will intensify efforts to raise oil output in a bid to ease the impact of falling oil prices. Conflicts between central and local government will probably increase as public resources become scarcer. If oil prices remain low, the appeal of exiting dollarisation and establishing full control over monetary policy will rise.

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