Latest news with #CourtofAuditors
Gulf Insider
29-05-2025
- Business
- Gulf Insider
France Faces IMF Pressure Over Welfare Spending
France's state audit office, the Court of Auditors, has issued a stark warning regarding the country's welfare spending, projecting an impending 'liquidity crisis.'The auditors' report reviewed by Politico indicates that welfare expenditures are 'out of control' and could leave France running out of money as early as 2027.'We need to take back control. Over the past years, especially in 2023 and 2024, we have lost control of our public finances,' the court's president, Pierre Moscovici, said in an interview with RTL. The government forecasts a social budget deficit of €15.3 billion for 2024, expected to escalate to €22.1 billion in 2025. However, the Court of Auditors deems even this substantial projection overly optimistic, citing the government's overestimation of economic growth and the impact of tax cuts. Pierre Moscovici, president of the Court of Auditors, emphasized the urgency of the situation in an interview with RTL on Monday. 'We need to take back control. In recent years, especially in 2023 and 2024, we have lost control of our public finances,' he stated. However, what Politico and the court both do not mention is that tens of billions of this spending is going to France's exploding immigrant population. As France has noted, academics have put the costs of migrants in France at approximately €25 billion a year, with some having even higher estimates. However, many of those with a migration background have French citizenship, and these are not counted in such statistics. France's budget deficit has significantly expanded as of late, reaching 5.8 percent of GDP last year, far exceeding the European Union's 3 percent ceiling. Despite the French government's deficit reduction pledges, the situation is not expected to improve substantially in the near term. The deficit is projected to decrease to only 5.4 percent by 2025, with the 3 percent target not anticipated until 2029. Both the EU and the International Monetary Fund (IMF) have expressed concern over France's escalating spending. Last week, the IMF advised France to curtail welfare spending and proceed with pension reform. Also read: $67 In France And $798 In US – Why Prescription Drug Prices Are So High In America Source Zero Hedge
Morocco World
27-05-2025
- Business
- Morocco World
Moroccan Political Parties Fail to Justify Over MAD 5 Million in Spending
Rabat – Morocco's Court of Auditors has revealed that political parties failed to justify more than MAD 5.73 million (~$625k) in spending during 2023. In its latest report , the court said this amount, about 6.27% of all declared expenses, was either not supported by any documents or only had incomplete ones. According to the report, MAD 5.34 million (~$582k) in party spending had no proof at all, while MAD 309,000 (~$33.6k) were backed by incomplete records, and another MAD 75,000 (~$8,200) had documents issued under someone else's name instead of the party's. This continues a trend of poor financial management among Morocco's political parties, although the percentage of unjustified expenses has dropped compared to 26% in 2022. Still, the court called on parties to improve how they manage public funds and follow accounting rules more closely. The report also shows that while 24 parties returned nearly MAD 36 million (~$3.9 million) to the Treasury between 2022 and March 2025, 15 parties still owe over MAD 21.9 million (~$2.3 million). Most of this money comes from election funding that was either misused or not spent, dating back to the 2015, 2016, and 2021 elections. Missing reports and weak oversight Out of 33 parties, only 27 submitted their financial statements for 2023. While 22 parties met the legal deadline, six parties failed to submit anything at all. The court also noted that four parties submitted unaudited accounts, and four others submitted reports with reservations from their auditors. Many parties also failed to provide important supporting documents, with seven parties failing to include all the required financial tables, three parties failing to submit all their bank statements, and three others failing to detail how they spent the money. The report also raised concerns about how some parties collect money. Eight parties were unable to prove how they got MAD 1.72 million (~$187k) in self-generated resources. This includes MAD 853,000 (~$93k) that came from sources that could not be traced, and MAD 866,000 was collected in cash, exceeding legal limits. In addition, the court found that 23 of the 27 parties that submitted reports had problems with how they kept their books. These included not recording public money they were supposed to return, basic accounting mistakes, and failing to follow the standard accounting format set by the state. In 2022, the government gave additional funds to support research and studies within parties. However, only three parties submitted their final research work. Four parties returned over MAD 2 million ($22k) in unused funds, while others provided no explanation. Tags: court of auditMoroccan Political Partiesspending
eNCA
08-05-2025
- Politics
- eNCA
Senegal MPs weigh graft cases against ex-ministers
Senegalese lawmakers on Thursday began debating whether to allow several former ministers to face charges before a special court over accusations they embezzled funds meant for the country's fight against Covid. Senegal's National Assembly is largely controlled by President Bassirou Diomaye Faye's party, who was elected in March last year on a promise to change how the west African country is run compared to his predecessors. Faye has made the fight against corruption a policy priority and has launched investigations into the administration of Macky Sall, who was president from 2012 for 12 years. But the opposition has slammed the moves as a "witchhunt". Last Friday, lawmakers lifted parliamentary immunity from prosecution for two opposition MPs caught up in the allegations while serving in Sall's administration. Proceedings of this type are rare in Senegal and cases against former ministers in the exercise of their duties must be authorised by lawmakers. Moustapha Diop was industrial development minister while Salimata Diop was the women's affairs minister under Sall when the fund to fight the spread of Covid-19 was established in 2020-21. Both have rejected accusations they misappropriated any of the money, which totalled one trillion CFA francs ($1.7 billion). The funds were intended to reinforce the healthcare system, support households and the private sector and protect jobs during the pandemic. However, a December 2022 Court of Auditors report revealed irregularities, such as 2.7 billion CFA francs in over-invoicing of rice purchased for disadvantaged households and some 42 million CFA francs for sanitiser. Three other former ministers accused are Amadou Mansour Faye, also the former president's brother-in-law, Aissatou Sophie Gladima and Ismaila Madior Fall. Several prominent figures, including artists, broadcasters, fashion designers, as well as senior officials, have been questioned during an investigation. Parliament lifted immunity for Moustapha Diop and Salimata Diop last Friday as they were elected as lawmakers in November after Sall left office. A three-fifths majority of the 165 lawmakers is required for the adoption of each draft resolution, with voting by secret ballot. The accused could then face questioning from the High Court's investigative committee, which will decide whether or not to commit them for trial. The court's final decision is not subject to appeal. By Malick Rokhy Ba
Time of India
08-05-2025
- Politics
- Time of India
Senegal MPs to weigh graft cases against ex-ministers
Senegalese lawmakers will weigh on Thursday whether to allow several to faces charges before a special court over accusations they embezzled funds meant for the country's fight against Covid. Tired of too many ads? go ad free now Senegal's National Assembly last Friday lifted parliamentary immunity for two opposition MPs caught up in the allegations while serving in the nation's last government. Proceedings of this type are rare in the west African county and cases against former ministers in the exercise of their duties must be authorised by lawmakers. Moustapha Diop was industrial development minister while Salimata Diop was the women's affairs minister under former President Macky Sall when the fund to fight the spread of Covid-19 was established in 2020-21. Both have rejected accusations they misappropriated any of the money, which totalled one trillion CFA francs ($1.7 billion). The funds were intended to reinforce the healthcare system, support households and the private sector and protect jobs in the west African nation during the pandemic. However, a December 2022 Court of Auditors report revealed irregularities, such as 2.7 billion CFA francs in over-invoicing of rice purchased for disadvantaged households and some 42 million CFA francs for sanitiser. The new national assembly is controlled by the ruling party of President Bassirou Diomaye Faye, elected in March last year. Faye has made the fight against corruption a policy priority and has launched investigations into the administration of Sall, who was president from 2012 for 12 years. The three other former ministers accused are Amadou Mansour Faye, also the former president's brother-in-law, Aissatou Sophie Gladima and Ismaila Madior Fall. Tired of too many ads? go ad free now Several prominent figures, including artists, broadcasters, fashion designers, as well as senior officials, have been questioned during an investigation which the opposition has slammed as a "witch hunt". Parliament lifted immunity for Moustapha Diop and Salimata Diop last Friday as they were elected as lawmakers in November after Sall left office. Lawmakers are set to meet from 1000 GMT to examine the case. A three-fifths majority of the 165 lawmakers is required for the adoption of each draft resolution, with voting by secret ballot. The accused could then face questioning from the High Court's investigative committee, which will decide whether or not to commit them for trial. The court's final decision is not subject to appeal.
Local Spain
30-04-2025
- Politics
- Local Spain
Spanish far-right party Vox fined for illegal financing
The court said a review of the party's annual accounts for 2018, 2019 and 2020 shows Vox "received or accepted unidentified donations in cash" during this period, calling it a "very serious breach" of the country's party financing laws. In response it said it fined Vox €862,496 ($979,000), a move the party said it would appeal. Vox called the ruling "unjust", saying in a statement that "on other occasions the Court of Auditors has closed identical cases". Founded in 2013 by former members of the mainstream conservative Popular Party, Vox is anti-Muslim, nationalist, anti-feminist, Eurosceptic, socially conservative and economically liberal. It has been the third-largest party in Spain's parliament since 2019 but has never held power at the national level.
