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Ghana faces potential obstacles in debt talks

Location:

GHANA

This follows a January agreement with official creditors, who are owed approximately USD5.4bn. That allowed the country to receive the second disbursement of USD600mn from the IMF…

South Africa may struggle to deliver a credible budget

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SOUTH AFRICA

Facing major shortfalls in tax collections, the Treasury has therefore requested government departments to implement immediate spending cuts and has recommended far-reaching…

South Africa faces fiscal reform challenges

Location:

SOUTH AFRICA

However, there are question marks over his ability to deliver on the ambitious spending cuts needed as tax collection falls in a weak economy.

Somali economic reforms will extend beyond debt relief

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SOMALIA

The programme's successful completion demonstrates the government's ability to deliver on reforms despite a difficult environment and clears the way for debt relief under the…

Russia’s budget deficit may exceed official target

Location:

RUSSIA

The federal budget deficit target for 2023, set at RUB2.9tn (USD35.8bn), is likely to be exceeded for the second year in a row. Federal expenditure is showing no signs of slowing…

Egypt's budget sets ambitious revenue targets

Location:

EGYPT

The budget envisages an overall deficit of 7% of GDP, revised upwards from an earlier draft because of the effects of devaluation and higher interest rates on public debt…

Romanian fiscal and external deficits will remain wide

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ROMANIA

Romania is among the member states liable to the EDP. Although its debt is relatively low at 47.9% of GDP, Romania has wide budget and current account deficits, yet its tax-to-GDP…

Nigeria's 2024 budget projections are likely untenable

Location:

NIGERIA

Defence and security get the largest sectoral allocation at NGN3.25tn, followed by education at NGN2.2tn and health and infrastructure, each at NGN1.33tn. However, the budget is…

Honduras frustrations over lack of reforms will mount

Location:

HONDURAS

Slow progress in enacting reforms is fostering frustration among those who had hoped that Castro would prompt substantial change when she came to power two years ago. Her tax…

Prospects for South Africa in 2024

Location:

PROSPECTS 2024

Macroeconomic prospects depend on whether Finance Minister Enoch Godongwana’s Medium-Term Budget Policy Statement (MTBPS) achieves traction with potentially hostile audiences…