South Africa Considers Fiscal Anchor to Curb Debt Growth

3 hours ago

Policymakers, economists pin hopes on government spending to propel economic recovery amid sluggish growth

After two consecutive quarters of sluggish economic growth, policymakers and economists are banking on a turnaround in the second half of the fiscal year, driven by increased government spending, a boost from the ongoing festive season, and resilient rural consumption. Economists note that while India is expected to retain its status as the fastest-growing major economy over the next five …

Global India Policy Growth Inflation Economic Growth Economic

1 week, 3 days ago

Industry needs to up R&D spend, expect govt capex growth to sustain: Ficci

Live Mint

New Delhi: Businesses need to step up their research and development spending, and the industry expects the government to sustain the growth in budget allocation for capital expenditure as these two would help the Indian industry to become more competitive in global markets, Harsha Vardhan Agarwal, president of Federation of Indian Chambers of Commerce and Industry, and vice-chairman and managing …

India Capital Businesses Capital Expenditure Industry Needs

1 week, 3 days ago

Capex support will continue for infrastructure development: Minister Chaudhary

Live Mint

India's capital expenditure on infrastructure projects such as roads, railways, ports, airports, and telecommunications has been rising steadily over the years, and the government stands ready to make adequate funds available in next year's budget as well to maintain the sector's growth momentum, minister of state for finance Pankaj Chaudhary said on Friday. India aims to become a developed nation …

India Infrastructure Work Country Minister Trillion Chaudhary

2 weeks ago

‘Centre, state CPSE capex could decline in FY25’

Live Mint

New Delhi: Capital expenditure by central infrastructure ministries, central public sector enterprises and state governments is expected to slow in FY25 after rising to a five-year high of 5.87% of GDP in FY24 due to reduced spending in the first two quarters, two people familiar with the matter said. "The Centre will continue its capital expenditure push in the upcoming …

India Growth States Capital State Centre Trillion

3 weeks, 3 days ago

Capex slowdown helps govt cut deficit by 6.6 per cent in Apr-Oct

New Indian Express

NEW DELHI: The slowing down of capital expenditure has helped the central government keep its books in order with fiscal deficit contracting by 6.6% in the first seven months of the current financial year, according to the data released by the government. The fiscal deficit during the period was Rs 7.5 lakh crore, which is 46.5% of the budget target …

Crore Lakh Total Expenditure

1 month ago

Data dive: How freebies are hurting already stressed state finances

Live Mint

Maharashtra and Jharkhand are going to polls amid heated campaigns that saw ideological clashes, political wrangling, and promises of several free goods and services, colloquially known as freebies. Most states that went to polls in 2023 or 2024 saw their fiscal deficit as a share of the gross state domestic product rise compared to the previous non-election year, showed a …

Tax Centre Free Fiscal Expenditure Emkay Global Revenues States

1 month, 1 week ago

To get more capital, Africa needs more data

Live Mint

“The concept of risk is completely invented to ensure that investment doesn’t come to Africa," Gagan Gupta told an audience of investors and entrepreneurs earlier this year, to resounding applause. Government debt across sub-Saharan Africa reached 60% of GDP in 2023, with two dozen countries’ debt burdens widely considered unsustainable. Equity valuations in stockmarkets are low, implying poor growth prospects …

Africa Data Debt Risk Investors Countries African

1 month, 1 week ago

How Chandrababu's Andhra budget is a balancing act on sops, fiscal prudence

India Today

The Chandrababu Naidu-led National Democratic Alliance government in Andhra Pradesh, which assumed office in the second quarter of 2024-25, has presented a Rs 2.94 lakh crore budget, reducing the extraordinary emphasis on welfare schemes and sops by the earlier Yuvajana Sramika Rythu Congress Party regime of Y.S. His government targeted the previous YSRCP regime for “destroying the financial conditions of …

Financial Crore Lakh Nda Ysrcp Naidu Andhra

1 month, 1 week ago

Government may ease quarterly capex limits to achieve record ₹11.11 trillion spending goal for FY25: Report

Live Mint

India is considering the relaxation of quarterly spending limits to ensure it does not fall short of its capital expenditure target for the financial year 2024/2025, according to a government source. Capital expenditure, or spending on building physical infrastructure, was at 4.15 trillion rupees during April-September, or 37% of the annual target, against 4.9 trillion rupees a year earlier. The …

India Trillion Capital Expenditure Rupees

1 month, 3 weeks ago

Odisha govt sets the ball rolling for budget 2025-26

New Indian Express

BHUBANESWAR: A fortnight ahead of schedule, the state government has begun preparation for the annual budget 2025-26 with a focus to make it fiscally prudent, inclusive and growth-oriented. As the Opposition BJD criticised the budget as a mere ‘name-changing’ exercise, accusing the BJP of superficially rebranding rather than introducing transformative policies, the government now aims to present a strategic fiscal …

Odisha Budget

1 month, 3 weeks ago

S&P and Moody’s warn of fresh constraints to public finances after Budget

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Ratings agencies S&P and Moody’s …

Budget Spending Free Breaking Fresh Constraints

1 month, 3 weeks ago

Interest on national debt tops £100bn a year as a result of Labour's Budget borrowing binge

Daily Mail

Britain will spend more than half a trillion pounds servicing the national debt between now and the end of the decade, Budget documents reveal. The Office for Budget Responsibility said debt interest payments would total £672billion between 2024-25 and 2029-30 – or more than £100billion a year. Ball and chain: The Office for Budget Responsibility said debt interest payments will …

Budget Debt Reeves Budget Responsibility National Debt Debt Interest Payments

1 month, 3 weeks ago

NT Treasury reveals budget may 'further deteriorate' due to big spending in police and prisons

ABC

The Northern Territory was already facing the highest debt levels in Australia per capita. 'Tightening the belt' from CLP The new Country Liberal Party government has promised to try and turn around the NT's grim economic prospects through "responsible fiscal spending" and "responsible investment". He also said the CLP would stop paying for "pet projects" such as a number funded …

Budget Economic Territory Clp Mr Mcmanus Mcmanus Commsec

2 months, 3 weeks ago

For her next trick... how the Chancellor could make debt seem to disappear - as millions brace for a painful October Budget

Daily Mail

Gordon Brown bent them. Now Rachel Reeves is set to follow the example of previous Chancellors by changing the so-called 'fiscal rules' – the Government's self-imposed limits on debt and borrowing. Rachel Reeves is set to follow the example of previous Chancellors by changing the so-called 'fiscal rules' – the Government's self-imposed limits on debt and borrowing As things stand, …

Government Labour Debt Rules Billion Reeves Fiscal

2 months, 4 weeks ago

Govt plans survey of lagging private capex

Hindustan Times

The statistics ministry is planning to conduct a survey of private-sector capital investment going into the economy, which has been lagging government capex but is critical for growth and jobs in Asia’s third-largest economy, a senior official has said. Private sector investment has grown at a slower pace, outstripped by government fixed capital formation, a measure of public spending on …

Growth Investment Capital Survey Spending Sector Private

3 months, 1 week ago

Conflict in South Africa’s coalition government is ‘not catastrophic,’ says major party leader

Associated Press

CAPE TOWN, South Africa — Conflict is likely among partners in South Africa’s new coalition government but that won’t be “catastrophic” for its hopes of turning around the country, the leader of the second biggest political party said Thursday. Steenhuisen said that there would likely be many moments of disagreement between his center-right DA and the left-leaning ANC over the …

South Africa Coalition South Anc Ramaphosa Steenhuisen

4 months ago

Need to address the $4 trillion financing gap, says Sitharaman

Hindustan Times

New Delhi Growth remains the best antidote to many economic and social challenges, finance minister Nirmala Sitharaman said at the Voice of the Global South Summit on Saturday while underscoring the urgency for concessional finance to developing countries facing a nearly $4 trillion annual financing gap in meeting SDGs. Union Finance Minister Nirmala Sitharaman Highlighting inadequate access to development finance, …

Finance Global Development South Need Sitharaman Financing

4 months, 3 weeks ago

FM Nirmala Sitharaman on Budget 2024: Union Budget strikes a fine balance between growth, employment, capital investment, and fiscal consolidation

The Hindu

Replying to the debate on the Union Budget in Rajya Sabha on Wednesday where more than 80 elders participated, Union Finance Minister Nirmala Sitharaman said the transfer of resources to the States is going unhindered and the inferences that she mentioned just two States in the budget was a propaganda created by the INDIA bloc to mislead the people. Countering …

Budget States Upa Crore Sitharaman Nda Neet

4 months, 3 weeks ago

Govt. on track to reduce fiscal deficit: Fitch

The Hindu

Fitch Ratings on Friday exuded confidence that the Government of India should be able to achieve its enhanced goal of reducing the fiscal deficit to 4.9% of GDP this year, and further below 4.5% of GDP next year, but noted that the post-election Budget did not provide much clarity on medium-term targets. While the Budget did highlight “a desire to …

India Budget Fiscal Deficit

5 months ago

New, emerging sectors primed for heavy lifting

Live Mint

A raft of policy initiatives mounted in recent years appear to be ever so gradually stoking private sector capital expenditure. First, growth stability, spillover from government investments in linked sectors, the Production Linked Incentive scheme and subdued commodity prices have meant the contribution of the private sector is cautiously inching up, as evident in the improving share of GFCF from …

India Cost Capex Bcd Emerging Sectors

5 months ago

Budget 2024-25 CAPEX: ₹11 lakh crore allocated towards capital expenditure, 3.4% of GDP by FM Nirmala Sitharaman

The Hindu

In her seventh budget presentation, Finance Minister Nirmala Sitharaman announced allocating Rs 11 lakh, 11 thousand and 111 crore towards capital expenditure. She further urged, “We will encourage states to provide support of similar scale for infrastructure development based on their priorities.” The finance minister stated that private investment in infrastructure will be promoted through Viability Gap Funding and a …

Nirmala Sitharaman

5 months ago

South African president says new coalition government is united in tackling unemployment and poverty

Associated Press

CAPE TOWN, South Africa — South African President Cyril Ramaphosa opened a new parliamentary term Thursday, nearly two months after an historic election result reshaped the country’s politics and led to the formation of an unprecedented multiparty government coalition. Ramaphosa’s speech to lawmakers at the City Hall in Cape Town — a replacement venue after a fire gutted the Parliament …

Africa South Africa Coalition Country South African Parliament

5 months, 1 week ago

Modi government's Capex ambitions face budgetary constraints amid political pressures

New Indian Express

NEW DELHI: The Narendra Modi-led government, since it took reins in 2014, has boasted of creating infrastructure at an unprecedented pace. In the first 10 years of his government’s tenure, the government has increased allocation to capital expenditure – spendings on creating infrastructure and other productive assets – by over five times. As Finance Minister Nirmala Sithraman readies herself to …

Budget Capex

5 months, 1 week ago

Kenya’s president warns of huge consequences after his effort to address an $80 billion debt fails

Associated Press

NAIROBI, Kenya — The ballooning debt in East Africa’s economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. Last week, days after announcing he would not sign the finance bill he once championed, Ruto said he had worked hard …

Economic Debt Interest Rates Kenya Imf Ruto Gichinga

5 months, 2 weeks ago

India's rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P

The Hindu

A sovereign rating upgrade for India in the next 24 months is possible if the central government is able to prudently manage its finances and bring down fiscal deficit to 4% of GDP, an S&P Global Ratings official said on July 3. S&P Global Ratings Director, Sovereign Ratings, YeeFarn Phua, said the trigger for upgrade would be general government deficit …

India Growth Deficit Fiscal Rating Phua Fiscal Deficit

5 months, 3 weeks ago

South Africa’s unprecedented new coalition has 7 parties in the Cabinet. Here’s a breakdown

Associated Press

CAPE TOWN, South Africa — South African President Cyril Ramaphosa has included seven different parties in his Cabinet in an unprecedented power-sharing agreement in the continent’s most industrialized country after the African National Congress lost its parliamentary majority in a milestone election result in late May. Ramaphosa’s announcement of the new Cabinet on Sunday night takes South Africa into uncharted …

Africa South Africa Coalition Parties South White Cabinet

5 months, 3 weeks ago

Odisha: Welfare promises, capex will need tightrope walk by government

New Indian Express

BHUBANESWAR: As the Mohan Charan Majhi government prepares for budget 2024-25, funding of ambitious welfare schemes vis-a-vis capital expenditure will require a tightrope walk. As approved in the first cabinet chaired by Majhi after he took oath as the chief minister, the government seeks to implement at least three major promises - Subhadra Yojana, support price of Rs 3,100 per …

Crore

6 months, 1 week ago

S. Africa unity govt to retain policy course

China Daily

African National Congress lawmakers react after Cyril Ramaphosa was reelected president of South Africa on Friday. AP The new coalition government in South Africa will not result in a big policy shift in the domestic field or relations with China, and South Africa-China collaboration and exchanges are likely to intensify, experts say. South Africa announced the formation of a coalition …

Policy China Africa South Africa National South Anc

6 months, 1 week ago

How South Africa’s rival parties ‘found each other’ in a last-ditch deal that saved a president

Associated Press

CAPE TOWN, South Africa — South Africa’s main political rivals are now partners in government after they came together in a last-minute coalition deal that ensured President Cyril Ramaphosa was dramatically reelected with cross-party support, and a struggling country was given a boost. The coalition between Ramaphosa’s African National Congress and the Democratic Alliance — South Africa’s only major party …

South Africa Parties Party Country South President Parliament

6 months, 1 week ago

South Africa’s Ramaphosa elected president, but coalition allies hold veto

Al Jazeera

An 11th hour deal between the ANC and traditional rivals has led to the country’s first coalition government. Cape Town, South Africa – Late-night negotiations and an eleventh-hour agreement led to the formation of South Africa’s first-ever coalition government on Friday, with President Cyril Ramaphosa at its head. Under the unprecedented coalition agreement, the Democratic Alliance – the African National …

South Africa Coalition Parties Party Agreement President Leon

6 months, 2 weeks ago

India's fiscal consolidation likely to become challenging with coalition government: Fitch

Hindustan Times

India's medium-term fiscal consolidation is likely to get more challenging as a new coalition government comes to power, an analyst at credit rating agency Fitch, said on Friday, according to a Reuters report. "Our expectation is that the government will look to achieve the 4.5% fiscal deficit target by 2025-26," Jeremy Zook, director of Asia-Pacific sovereigns at Fitch told Reuters …

India Reuters Deficit Fiscal Fitch Fiscal Consolidation Coalition Government

6 months, 2 weeks ago

The UN says global public debt hit a record $97 trillion in 2023. Developing countries are hard hit

Associated Press

GENEVA — Global public debt rose to a record $97 trillion last year, the United Nations reported Tuesday, with developing countries owing roughly one-third of that — crimping their ability to pay for basic government services like health care, education and climate action. In 2023, public debt in developing countries hit $29 trillion, or about 30% of the total worldwide …

World Developing Developing Countries Countries Trillion Public Debt Global Public Debt

6 months, 3 weeks ago

A guide to what’s next for South Africa and the key figures in unprecedented coalition talks

Associated Press

CAPE TOWN, South Africa — South Africa’s election has decided little, other than the African National Congress that liberated the country from apartheid in 1994 has lost its 30-year majority. With no one holding a majority, South Africa’s party leaders are embarking on coalition talks to form a government. That could be damaging for South Africa’s image with foreign investors …

Africa South Africa Election Coalition Parties Party South

6 months, 4 weeks ago

It’s possible no party will get a majority in South Africa’s election. Here’s what that would mean

Associated Press

CAPE TOWN, South Africa — The focus for South Africa’s national election next week is on the fate of the African National Congress party and whether it is going to lose its parliamentary majority for the first time, as many expect. Several polls put the ANC’s support below 50% ahead of Wednesday’s vote, raising the prospect that it might not …

Africa South Africa National Election Coalition Parties Party

6 months, 4 weeks ago

Welcome bounty: On the RBI’s ₹2.11-lakh-crore transfer to the Union government

The Hindu

The decision by the Reserve Bank of India’s board to transfer a record surplus of almost ₹2.11 lakh crore to the Union government for 2023-24 will serve as a welcome shot in the arm for the new government when it presents its Budget in July. More than double the previous year’s ₹87,416 crore payout as well as the ₹1.02 lakh …

Rbi

6 months, 4 weeks ago

As South Africa election nears, one candidate ditches political parties to go it alone

Associated Press

JOHANNESBURG — An outspoken former activist and member of South Africa’s ruling African National Congress will be among at least 10 independent candidates seeking to become lawmakers for the first time in the country’s history. South Africa is allowing independent candidates to take part for the first time in the country’s national elections next week, following a landmark ruling delivered …

Africa Political Parties South Africa Election South Need South Africans

7 months ago

Load shedding & water woes: Can South Africa fix its ailing infrastructure?

Al Jazeera

As a crucial election approaches, ANC government looks set to tap in to business in an effort to revamp infrastructure. “In all honesty, I’m more worried about my taps than my lights.” ‘It just spills on to the streets’ In South Africa, most water reservoirs are powered by electricity. “Greater private sector participation looks inevitable, and not just in water.” …

Africa Infrastructure South Africa Water Electricity Private Companies Power

7 months, 2 weeks ago

Here are seven charts to make sense of the Victorian state budget

ABC

The Victorian government handed down its budget for 2024-25 yesterday. When analysing these figures together, we can see Victoria's debt will reach 24.4 per cent of its economy in the next financial year. Goal to reach budget surplus by June 2026 The Victorian government not only predicts a reduction in the debt ratio — it's forecasting a budget surplus. The …

Infrastructure Budget Debt Spending State Billion Victoria

7 months, 2 weeks ago

Federal budget to haul in extra cash once again, but less than in previous years

ABC

Next week's federal budget will once again collect more in tax than expected, raking in an extra $25 billion over the five-year budget forecasting period. The windfall is smaller than in the past six updates, prompting Treasurer Jim Chalmers to warn his third budget would be characterised by "intensifying, not easing" financial pressure to show fiscal restraint. He said this …

Economy Tax Inflation Budget Treasury Spending Billion

7 months, 3 weeks ago

South Africa will mark 30 years of freedom amid inequality, poverty and a tense election ahead

The Hindu

As 72-year-old Nonki Kunene walks through the corridors of Thabisang Primary School in Soweto, South Africa, she recalls the joy she and many others felt 30 years ago when they voted for the first time. It was at this school on April 27, 1994, that Kunene joined millions of South Africans to brave long queues and take part in the …

Africa South Africa Black Election South Vote 30 Years

8 months ago

North Carolina sees slight surplus this year, $1B more next year

Associated Press

RALEIGH, N.C. — North Carolina’s government should collect higher revenues during this fiscal year and next than what is projected in the current two-year state budget, according to a new forecast released Wednesday. Roy Cooper’s state budget office now predict collections will exceed revenue budgeted for the year ending June 30 by $413 million, or a 1.2% increase. The budget …

Budget North Carolina This Fiscal Year Slight Surplus

9 months, 2 weeks ago

Budgetary allocations in UP: 67% funds used so far, efforts on to utilise money by March 31

Hindustan Times

LUCKNOW With the current financial year ending on March 31, 2024, the state government has so far used nearly 67% of the budgetary funds and efforts have been stepped up to ensure that departments make use of the funds without compromising on quality. The state government got an annual budget of ₹ 6.90 lakh crore approved from the state legislature …

Budget State Crore Funds Lakh

9 months, 3 weeks ago

Ajit Pawar presents interim budget, state debt reaches ₹7.82 lakh crore

Hindustan Times

MUMBAI: Finance minister Ajit Pawar on Tuesday presented a ₹6 lakh crore interim budget with a revenue deficit of ₹9,734 crore. While the government is aiming for a $1trillion state economy, its debt burden has reached ₹7.82 lakh crore after a net borrowing of ₹72,000 crore. The PM has announced welfare schemes for youth, women, the poor and farmers, which …

Budget Maharashtra Capital Pawar State Crore Lakh

9 months, 4 weeks ago

Why South Africa is facing a turning point in May's national election

The Hindu

Polls suggest South Africa will face a historic turning point in a national election in May as the ruling African National Congress could lose its majority for the first time since coming to power in the country's first all-race vote at the end of apartheid in 1994. The overriding sentiment is that the ANC has failed to significantly improve the …

South Africa National Election Coalition Parties Party Vote

10 months ago

Corporate sector capex to fuel economic growth: RBI

New Indian Express

NEW DELHI: The Reserve Bank of India, in its February bulletin, on Tuesday said the fresh round of capex by corporate sector would likely fuel the next leg of economic growth. As per the apex bank, notable fixed asset growth is seen in oil, gas, and chemicals, while sectors like steel and automobiles lag in fixed asset additions despite strong …

Corporate Sector

10 months ago

Pressure mounts on South Africa’s ruling party as unemployment rises again ahead of election

Associated Press

CAPE TOWN, South Africa — South Africa’s unemployment rate, already the highest in the world, rose to 32.1% in the fourth quarter of 2023, according to official government figures released on Tuesday. The Quarterly Labor Force Survey reported that the number of unemployed working-age people in South Africa rose to 7.9 million after 46,000 more became unemployed in the last …

Africa South Africa South Anc

10 months ago

South Africa’s main opposition party lays out plans to unseat the African National Congress

Associated Press

PRETORIA, South Africa — Thousands of South Africans gathered in the capital Saturday to show support for the country’s biggest opposition party as it prepares for a much-anticipated national election in which it hopes to wrest control of the government from the ruling African National Congress. Participants at the Democratic Alliance conference also highlighted South Africa’s unemployment rate of over …

South Africa Party Democratic South Alliance African Anc

10 months, 1 week ago

Karnataka Budget: No tax hike, borrowings cross ₹1 lakh crore in revenue deficit

The Hindu

The total outlay of the Karnataka State budget for 2024-25 is pegged at ₹3,71,383 crore, as against a revised estimate of ₹3,12,708 crore for 2023-24. Karnataka Budget 2024-25: LIVE coverage While the Chief Minister has not increased any taxes, he has presented a revenue deficit budget with the net borrowings crossing ₹1 lakh crore, perhaps for the first time in …

Tax Budget Revenue State Total Siddaramaiah Deficit

10 months, 2 weeks ago

Lacklustre capex by PSUs is blunting government’s growth stimulus

Live Mint

The Narendra Modi government’s strategy for supporting growth has been to increase capital expenditure through its budget in the hope that the infrastructure created would nudge the non-government sector to invest, creating new incomes. FY25 will be the fourth successive year in which more than half the growth in the total spending through the budget will be due to higher …

Sector Gdp Growth Fy25 Cpses Budget Estimate Capex Spending

South Africa Considers Fiscal Anchor to Curb Debt Growth

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