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It is only an interim budget because a general election is set to take place soon, most likely in April-May. The budget surprised many observers because of its lack of…
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DOI: 10.1108/OXAN-DB285189
ISSN: 2633-304X
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That followed a primary surplus equivalent to 0.5% of GDP in 2022. The negative result in 2023 was partly caused by exceptional circumstances, notably the early payment of…
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DOI: 10.1108/OXAN-DB285159
ISSN: 2633-304X
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KENYA: Ruto doubles down on fiscal consolidation
The GDP growth target of 5% and the urban job creation target of 12 million are unchanged from last year, but harder to achieve as the post-pandemic rebound fades and large-scale…
The government has posted the first fiscal surplus in years, inflation has declined and foreign currency reserves have risen from USD21.0bn in mid-December to USD28.5bn. However…
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DOI: 10.1108/OXAN-DB285892
ISSN: 2633-304X
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The primary surplus (0.6% of GDP) was driven by a 35% real fall in primary spending, which offset a recession-induced 4.5% drop in revenues. Month-on-month inflation has also…
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DOI: 10.1108/OXAN-DB286714
ISSN: 2633-304X
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IRAQ: Anti-corruption moves will fall far short
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DOI: 10.1108/OXAN-ES285630
ISSN: 2633-304X
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Real GDP surged by 15% in 2021 and 12% in 2022, then by 4% in 2023. With inflation easing, risks of social instability have probably fallen over the past year, but growth looks…
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DOI: 10.1108/OXAN-DB285253
ISSN: 2633-304X
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However, although output has grown, a tight labour market and persistent inflation have created new problems. The reorientation of trade away from Europe has resulted in a…
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DOI: 10.1108/OXAN-DB285374
ISSN: 2633-304X
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TUNISIA: EU aid will help, but it will not be enough