...A COMPARATIVE ANALYSIS OF THE NIGERIAN BUDGET FROM 1999 – 2013 ONOWA SIMON +2348064034407 Simoncy2k@gmail.com ABSTRACT This study examines the Federal Government budget in Nigeria between 1999 and 2013. The analysis of this study showed that for more than a decade of democratic dispensation in Nigeria, there has been a consistent increase in the total recurrent expenditure of the Federal Government. This has led to budget deficits. Thus a key macroeconomic issue addressed in this study is the rationale underlying government fiscal deficit, the significance of the rational expectation hypothesis in Nigerian economy and the consequences and impact of this action on the economy. Data for this study were collected from CBN statistical bulletin and gazette of the Federal Ministry of Finance. The study employed a descriptive analysis. Government has been allocation more fund to recurrent expenditure over the period under study. Using key fiscal indicators the study recommended that for overall sustained economic growth and development; federal government should increase substantially allocation to capital projects in rural Nigeria to trigger economic growth and development. Introduction A Budget is focused on the Government’s drive to achieve its developmental goals as entrenched in its Vision. It is also anchored on the commitment of the Government to improve the socio-economic status its people by strategically implementing plans and programmes to boost economic activity...
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...Mita Choudhury H.K. Amar Nath National Institute of Public Finance and Policy (NIPFP) 18/2 Satsang Vihar Marg New Delhi May 2012 An Estimate of Public Expenditure on Health in India The level of public spending on health has been a widely discussed issue in India in recent times. Various research studies as well as policy documents have repeatedly highlighted the low level of public spending on health in India.1 In particular, public spending on health as a per cent of GDP has been the focus of discussions, as it is an indicator of the priority accorded to health in the planning process of the country. Policy documents like the Approach Paper to the Twelfth Five Year Plan (2012 to 2017), the High Level Expert Group for Universal Health Coverage (HLEG), the Programme Implementation Framework of the National Rural Health Mission (NRHM) and the Report of the National Commission on Macroeconomics and Health (NCMH) have all endorsed the need to raise the level of public spending on health in India from around one per cent to 2 to 3 per cent of GDP. Monitoring the progress towards achieving the target level of public spending on health has been difficult, due to ambiguity in the definition of health expenditure used, and the corresponding figures reported by different government agencies. The latest Economic Survey, 2011-12 of the Government of India suggests that public spending on health was around 1.35 per cent of GDP in 2010-11 (R.E.). It is however, not clear...
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...Research Vol.2. No.3, pp. 69-83, May 2014 Published by European Centre for Research Training and Development UK (www.ea-journals.org) A CRITIQUE ON CASH BASIS OF ACCOUNTING AND BUDGET IMPLEMENTATION IN NIGERIA Emmanuel Amaps Loveday Ibanichuka (Fca, Ph.D) Department of Accounting,Faculty of Management Science,University of Port-Harcourt, Port-Harcourt Oyadonghan Kereotu James (Aca) (Corresponding Author) Lecturer, Department of Accounting and Finance Niger Delta University, Wilberforce Island, P.M .B 071, Yenagoa, Bayelsa State, Nigeria ABSTRACT: In public sector accounting, government ministries and parastatals operate a cash basis of accounting which is believed to be simple in operation and understanding by staff that may not simply have a rigorous training in accounting. A great disadvantage is that it does not recognise assets, debtors and liabilities. This principle negligence is capable of introducing negligence into proper record keeping of how much value of infrastructural assets are being developed in the pass fiscal years, their state of activity and possibly resulting to a repetition of projects, poor monitoring of budget implementation and misappropriation of fund. The authors took a frank analysis of the implications as they relate to the consistent problem of poor budget implementation in Nigeria. This study was based on empirical analysis of one hundred and thirty (130) questionnaires distributed to 130 public servants in the civil service of...
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...The Evolution of Population Policy in Viet Nam The Evolution of Population Policy in Viet Nam Three periods in the evolution of the population policy of Viet Nam are documented in this article: initiation in the 1960s and 1970s; maturity in the 1980s and 1990s; and legalization in the 2000s and early 2010s. A framework was used for stakeholder analysis in the sociopolitical context of Viet Nam in order to analyse interactions between leading state agencies in the development of population policy and their influence on the organizational structure of the population programme. The current tensions in the implementation of the population programme are highlighted, and a new population policy is called for that would be more conducive to addressing broader population and reproductive health issues, in order to respond more effectively to new challenges arising from the socioeconomic and demographic transition of the country. By Bang Nguyen Pham, Peter S. Hill, Wayne Hall and Chalapati Rao* Background Population policy is highly complex and intensely political, and directly linked to a country’s socioeconomic development, security and protection. Population growth rates in the developing world have been the target of some population policies. As a result those rates declined from an average of 2.4 per cent annually in the 1970s to 1.4 per cent in the 2000s (United Nations, 2008a). In the population policy of many developing countries, the control of population size is emphasized;...
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...financial crises have been followed by a wave of governments defaulting on their debt obligations. Financial crises tend to lead to, or exacerbate, sharp economic downturns, low government revenues, widening government deficits, and high levels of debt, pushing many governments into default. As recovery from the global financial crisis begins, but the global recession endures, some point to the threat of a second wave of the crisis: sovereign debt crises. Greece is currently facing a classic sovereign debt crisis. Greece accumulated high levels of debt during the decade before the crisis, when capital markets were highly liquid. As the crisis has unfolded, and capital markets have become more illiquid, Greece may no longer be able to roll over its maturing debt obligations. Some analysts have discussed the possibility of a Greek default. To avoid such a default, however, the Greek government has introduced a variety of austerity measures and, on April 23, 2010, formally requested financial assistance from the other 15 European Union (EU) member states that use the euro as their national currency (the Euro zone) and the International Monetary Fund (IMF).Greece’s debt crisis has raised a host of questions about the merits of the euro and the prospects for future European integration, with some calling for more integration and others less. Some have also pointed to possible problems associated with a common monetary policy but diverse national fiscal policies. This report provides an overview...
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...Local government report by the Comptroller and Auditor General Local government Impact of funding reductions on fire and rescue services NOVEMBER 2015 Our vision is to help the nation spend wisely. Our unique end-to-end view of public sector service delivery allows us to provide commentary, advice and insight to local authorities to help achieve the best use of resources and improve public services. The Comptroller and Auditor General (C&AG), Sir Amyas Morse KCB, is an Officer of the House of Commons, independent of government and leads the NAO, which employs some 810 people. The Local Government and Accountability Act 2014 provides for the C&AG to conduct examinations into the economy, efficiency and effectiveness with which local authorities have used their resources in discharging their functions. The C&AG may publish the results of such an examination in such manner as he considers appropriate. Local government Impact of funding reductions on fire and rescue services Report by the Comptroller and Auditor General This report has been prepared and published under Section 7Z(A) of the National Audit Act 1983 as introduced by the Local Audit and Accountability Act 2014 Sir Amyas Morse KCB Comptroller and Auditor General National Audit Office 2 November 2015 This report examines comparative patterns of change in income, spending and financial and service sustainability across fire and rescue authorities since 2010-11. © National...
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...Political Economy - July 2011 Greece has been experiencing severe fiscal challenges for the past decade. The country’s economic and political situation has reached crisis level thus propelling it into the global lime-light, dominating headlines in print and electronic media. This essay seeks to explain the crisis and explore the implications for Greece, the European Union and the international political economy, should continued assistance not forthcoming. The source of Creek’s debt crisis is both domestic and international. Domestically, analysts point to high government spending, weak revenue collection, and structural rigidities in the economy. This affected the state’s ability to fund government budget and current account deficits, resulting in profound borrowing. As the situation progressed for the worst, the Creek economy relied heavily on international capital markets, which only aided in making the country extremely vulnerable to any shifts in investor confidence. Access to capital at low interest rates after adopting the euro, and weak enforcement of European Union (EU) rules concerning debt and deficit ceilings facilitated Greece’s accumulating high levels of external debt. In October 2009 investors became jittery due to the actions of the newly elected government in revising the estimate of the government budget deficit for 2009 from 6.7% of gross domestic product (GDP) to 12.7% of GDP (Nelson et al., 2010). A few months later, however, in April 2010, Eurostat, the European...
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...THE IDEAs WORKING PAPER SERIES Paper no. 01/2012 Fiscal Policy Evolution and Distributional Implications: The Indonesian experience Smitha Francis Abstract This paper analyses Indonesia’s resource mobilisation and public expenditure policies against the backdrop of her inequality trends and macroeconomic policy evolution. It is argued that the country’s fiscal policy stance has been adversely impacted by her monetary and financial sector policies under an open capital account, with attendant regressive distributional implications. Juxtaposing the analysis of revenue mobilisation trends and taxation policies with the evidence of increasing asset and land concentration and persisting high inequalities reveals that the increase in income tax revenue did not necessarily come from the upper income profiles or corporate profits. Meanwhile, although government expenditure to GDP ratio has improved after 2003, capital expenditures and social expenditures other than those in education continue to remain low. Further, the current pattern of fiscal decentralisation does not seem to be effective in addressing the existing disparities. JEL Classification H 200; H 500; H 700 Key Words Indonesia, fiscal policy, public finance, inequality, taxation, revenue, government expenditure, financial liberalisation, IMF debt conditionalities, decentralisation Smitha Francis is Principal Economist, Economic Research Foundation, New Delhi. Email for correspondence: smithafrancis@gmail.com ...
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...Executive Summary Budgetary Control within public sector entities can be a difficult task due to the complexity of the system. A budget is a financial plan that contains expected revenues and proposed expenditures for a period of time. Every public sector entity needs an operating budget, which is prepared by an executive board and then approved by legislature. One the approved budget is adopted; it becomes a law and cannot be changed. If an entity exceeds its budget, it can be forced to pay hefty fines. The funding for public sector budgets is usually from taxes, loans, revenues, fines, inflation, donations and grants. When controlling revenues, it is important to record revenues as when they are earned. Unearned estimated revenues should remain as unrealized revenues. Budgetary control over expenditures follows the logical cycle: appropriations are recorded, and then encumbrances are recorded, followed by the expenditures, and then payment is disbursed. Public sector entities face both advantages and disadvantages of budgetary control. It is a challenge for such entities to operate within their proposed budgets due to budget cuts, budget surprises, and unforeseen costs, such as emergencies. This is evident in cities such as Detroit, Michigan; Atwater, California; and Fresno California. The most relevant implication of budgetary control was seen in the government shutdown, which occurred on October 1st, and last 16 days. This paper examines the importance of budgetary control and its...
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...2.How will government policies affect Morgan Sindall? You should explore the UK coalition government’s current policies that could affect Morgan Sindall. You should outline your views and opinions on the policies which you believe has a greater effect on the business 3.You must explain the “multiplier effect” of government spending for this business by exploring the local, national and international implications. What is the potential outcome at a local, national and international level when there are changes in government spending? Explore the effect of government policies on demand for Morgan Sindall’s business and the impact on its revenue, profits and employment. I have been asked to create a report in order to explain and analyse how government policies affect and impact Morgan Sindall. Therefore I had to do some research to find the new policies due to the coalition between the conservative and the liberal parties. For the first time since the Second World War, the liberal and the conservative party have made an agreement. This newly coalition between both parties has the aim of forming a full coalition comprising MPs (members of parliament) from the Conservative Party and the Liberal Democracy. The fact that a coalition takes place in United Kingdom's government, we find a series of disagreements and compromises in different topics and fields such as; Spending review, deficit reduction, tax measures, banking reform, immigration... Because Morgan and Sindall is mainly...
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...10 6.7 European Financial Stability Facility (EFSF). 10 6.8 European Financial Stabilization Mechanism (EFSM). 10 6.9 ECB interventions. 10 6.10 Brussels Agreement. 11 6.0 Implications of the European Debt Crisis: For the European Union 12 7.0 Implications of the European Debt Crisis: For the Global Economy 13 8.0 Implications of the European Debt Crisis: For Global Politics 14 9.0 Implications of the European Debt Crisis: For Pakistan 15 10.0 Implications of the European Debt Crisis: For the Welfare State 16 11.0 Solutions for the European Debt Crisis 16 12.11 Eurobonds. 16 12.12 Restructuring of Eurozone. 18 1.0 Overview: With a nominal GDP of $16,242 Billion in 2010 (20% of global GDP), the European monetary union is not only the world’s largest economic block, but also the foremost integrated economic and political association of nations in history. The economic crisis the Euro Zone currently faces is unique in all of its aspects. While, like all financial disasters, it cannot be traced back to just one precipitating event or factor, the spread and evolution of this crisis has charted an unprecedented path. All of which ultimately makes the implications of this crisis both far reaching and multi-faceted, and gives rise to a host of...
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...Bangladesh in the backdrop of falling investment, missing revenue target and growing pressure on revenue. This issue of Bangladesh Economic Update probes into the tax system of Bangladesh in the backdrop of falling investment, missing revenue target and growing pressure on revenue. Bangladesh has comparatively lower tax to GDP ratio, even compared to most of its South Asian counterparts. For example, tax to GDP ratio in Bangladesh was 6.74 percentage points lower than India in FY 2012-13. The gap between the total expenditure and total revenue is increasing over the years. If the same trend continues, it can be anticipated that the gap may become further wider to Tk. 558.5 billion in FY 2013-14 from the targeted Tk. 550.32 billion. The budget deficits...
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...Home | Contacts | Feedback About DEI * Background * Staff Organisation * Permament Secrerary's Office * Legal Department * Ethics Education * Finance and Administration IAF Resource Center Legal Department The Legal Department is the policy arm of the Directorate for Ethics and Integrity. Its main objective is to strengthen the Legal and Policy framework to fight corruption and rebuild ethics and integrity in Uganda. With regard to the coordination role, the Legal department is responsible for tracking the enforcement of anti- corruption policy and laws. This exercise is expected to ensure compliance and to enable the identification of challenges that law enforcement agencies face during enforcement and, also a mechanism to identify lacuna in the existing law and, new and emerging issues in the fight against corruption that would require new legislation. Functions of the Department * To Provide legal counsel to the directorate on matters related to the fight against corruption and ensuring ethical governance * To review existing anti- corruption legislation and policy, with a view to proposing ammendments * To identify new and emerging issues in the fight against corruption and develop new legislation or measures to address the same * To ensure compliance with anti- corruption laws and policy by monitoring their implementation * Ensuring that Uganda's legal and policy frame work is in harmony...
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...AFRICAN AND ASIAN COUNTRIES 5 Argentina – Its pitfall and the problems behind it 5 Turkey – A Privatization through BOT 7 Kenya Airways – A Successful Story 9 Malaysian Airlines Considering Privatization 10 Germany-Fully privatized and partially privatized 12 Privatization in United Kingdom 14 IMPLICATION OF PRIVATIZATION 16 RECOMMENDATIONS 17 REFERENCES 18 ABSTRACT This paper focuses on the privatization of airports in six different countries which are Argentina, Turkey, Germany, United Kingdom, Malaysia and Kenya. The analysis aims to highlight the objectives, implementation and the government rules towards privatization of airports. This paper also aims to identify to what degree privatization contributes to or enhances the performance of the airports. The study measures the change in any given indicator of performance whether the privatization on the airports are successful or not. For each country, privatization occurred by fully privatized or partially privatized with residual public ownership. Moreover, the study also stress on the implication of privatization towards the countries. One of the implication is it will reduce burden of the government to bear high expenses. Privatization programme also...
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...December 2011 Mini Country Report/Romania under Specific Contract for the Integration of INNO Policy TrendChart with ERAWATCH (2011-2012) Mini Country Report Thematic Report 2011 under Specific Contract for the Integration of INNO Policy TrendChart with ERAWATCH (2011-2012) December 2011 Author: Marina Ranga, Stanford University Table of Contents Preface ii Executive Summary iii 1. Innovation policy trends 1 1.1 Trends and key challenges for innovation policy 1 1.2 Innovation governance 7 1.3 Recent changes in the innovation policy mix 12 1.4 Internationalisation of innovation policies 15 1.5 Evidence on effectiveness of innovation policy 16 2. Innovation policy budgets – an overview 19 2.1 Trends in funding of innovation measures 19 2.2 Departmental and implementing agency budgets for innovation policies 2 1 2.3 Future challenges for funding of innovation policy 22 3. Thematic report: Demand-side innovation policies 23 3.1 Trends in the use of demand-side innovation policies 24 3.2 Governance challenges 30 3.3 Recent demand-side innovation policy measures 3 1 3.3.1 Sectoral specificities 3 1 3.3.2 Good practice case 3 1 Appendix A : Plan to increase the efficiency and effectiveness of RDI expenditure (Summary of provisions) 32 Appendix B : Recommendations of World Bank’s Functional Review for the reform of the Romanian RDI...
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