Latest news with #nationalbudget
Bloomberg
6 days ago
- Business
- Bloomberg
South African Coalition Skirts Crisis to Pass National Budget
South Africa's National Assembly gave a final stamp of approval to the national budget, defusing the latest crisis to embroil President Cyril Ramaphosa's 10-party administration. The Democratic Alliance, the coalition's second-largest member, had threatened to withhold support for allocations to government departments headed by ministers implicated in wrongdoing, potentially disrupting the entire budgeting process.
ABC News
26-06-2025
- Politics
- ABC News
Budget day in Fiji as government braces for economic shock from the Middle East
On the program today Fiji's government is set to present its national budget later this morning promising investments in jobs, infrastructure, and social protections. Australia seeks to cement its place as the Solomon Islands' "security partner of choice." The final investigation report into an aircraft accident involving a Lulutai Airlines in Tonga comes to light. Rugby league legend Marcus Bai reveals his thoughts on what PNG's rugby league team should be called. A rugby representative team composing of players of Pacific Islander and First Nations heritage unveils its jersey to face the British & Irish Lions. And Palau makes final preparations ahead of the Pacific Mini Games.
Zawya
13-06-2025
- Business
- Zawya
Uganda: Speaker cautions accounting officers on public resources
The Speaker of Parliament, Anita Among, has called on accounting officers to ensure the prudent, efficient, and effective use of public resources in accordance the Public Finance Management Act, 2015. Speaker Among was speaking in Kololo where Parliament met to receive the national budget for the financial year 2025/2026 on Thursday, 12 June 2025. Among used the occasion to raise critical issues that emerged during Parliament's budget scrutiny process and reaffirmed the House's bipartisan commitment to national development. 'Much as politics and contestation go hand in hand, when it comes to matters of national development, this Parliament puts Uganda first regardless of political affiliation,' she said. She emphasized several priority areas that require immediate attention such as strengthening oversight and implementation of wealth creation initiatives such as the Parish Development Model (PDM), Youth Livelihood Fund, Uganda Women Entrepreneurship Programme (UWEP), and Social Assistance Grant for Empowerment (SAGE). She also highlighted that enforcing implementation of high-impact projects under the fourth National Development Plan (NDP IV) to achieve the country's strategic goals and enhancing budget discipline by compelling Accounting Officers to adhere strictly to approved budgets and work plans is crucial for Uganda's progress. She established that there is a need to reduce supplementary budget requests by adhering to requirements of the Public Finance Management Act, which limits them to unavoidable, unforeseeable, and absorbable expenditures Among further noted that the FY2025/2026 budget was passed by Parliament on 15th May 2025, in compliance with Section 14 of the Public Finance Management Act and Parliament's Rules of Procedure. She highlighted key milestones achieved in the budget process, including: · Approval of the National Budget Framework Paper (2025/2026 –2029/2030) on 30th January 2025. · Consideration of Ministerial Policy Statements between 9th and 16th April 2025. · Passage of seven revenue-related bills on 13th and 14th May 2025 to facilitate budget financing. She praised Parliament's efficiency, attributing it to cooperation among the Legislature, Executive, Judiciary, and civil society. 'Together, we met all legal and constitutional timelines and adequately scrutinized the budget,' she said. She urged continued civic engagement during the implementation and accountability phases, stressing the importance of public participation as a pillar of democracy and good governance. In a separate communication, the Speaker confirmed and named nine legislators who had switched from their original party. 'We wish these Members well as they exercise their right to freedom of association, as enshrined in article 29 of the constitution,' she said. Distributed by APO Group on behalf of Parliament of the Republic of Uganda.
Zawya
04-06-2025
- Business
- Zawya
South African rand edges up before parliamentary committee debates budget
JOHANNESBURG - The South African rand edged up on Wednesday before a parliamentary committee was due to debate the long-delayed national budget. At 0730 GMT, the rand traded at 17.81 against the dollar , about 0.2% stronger than Tuesday's closing level. The Standing Committee on Finance was to meet from 0800 GMT to consider the first piece of legislation associated with the budget. It is set to adopt a report to either recommend that lawmakers pass the fiscal framework and revenue proposals or send them back to the National Treasury for further changes. The budget was meant to be presented in February but has had to be revised twice due to disagreements in the ruling coalition government, largely over contentious plans to raise tax. The third budget version presented by Finance Minister Enoch Godongwana in May is now expected to pass, after a coalition partner that rejected the two previous iterations backed it. Early on Wednesday a purchasing managers' index survey showed South African business activity grew at its fastest pace in four years in May. That followed Tuesday's gross domestic product data showing Africa's biggest economy stagnated in the first quarter. The benchmark 2035 government bond was slightly stronger in early deals, as the yield fell 2.5 basis points to 10.085%.
Reuters
04-06-2025
- Business
- Reuters
South African rand edges up before parliamentary committee debates budget
JOHANNESBURG, June 4 (Reuters) - The South African rand edged up on Wednesday before a parliamentary committee was due to debate the long-delayed national budget. At 0730 GMT, the rand traded at 17.81 against the dollar , about 0.2% stronger than Tuesday's closing level. The Standing Committee on Finance was to meet from 0800 GMT to consider the first piece of legislation associated with the budget. It is set to adopt a report to either recommend that lawmakers pass the fiscal framework and revenue proposals or send them back to the National Treasury for further changes. The budget was meant to be presented in February but has had to be revised twice due to disagreements in the ruling coalition government, largely over contentious plans to raise tax. The third budget version presented by Finance Minister Enoch Godongwana in May is now expected to pass, after a coalition partner that rejected the two previous iterations backed it. Early on Wednesday a purchasing managers' index survey showed South African business activity (ZAPMIM=ECI), opens new tab grew at its fastest pace in four years in May. That followed Tuesday's gross domestic product data showing Africa's biggest economy stagnated in the first quarter. The benchmark 2035 government bond was slightly stronger in early deals, as the yield fell 2.5 basis points to 10.085%.
