First Independent Mena Newspaper
The Moroccan government needs to increase its 2024 budget by 14 billion dirhams ($1.4 billion) to meet expenditures linked to subsidizing electricity prices and wage hikes, minister delegate in charge of the budget Fouzi Lekjaa said. In a presentation at the finance committee in parliament, Lekjaa recalled that the government has approved a decree to […]
The junta-led government in Gabon has increased by three per cent the 2024 budget allotted for armed forces, up from $30 million of last year. The 2024 budget will cover clothing and food for the troops, as well as fuel for the various vehicles of the armed forces. The increase, Gabon Review reports, follows several […]
Morocco’s public finances are under unprecedented pressure due to imported inflation and its impact on the cost of state subsidies. But despite the impact of geopolitical tensions on the state budget, the government maintains its expansionary budget which has increased funding for social services. Morocco has adopted an ambitious development model to bolster the competitiveness […]
The World Bank Tuesday announced the intent to provide $400 million to Tunisia in view of backing social reforms. Ferid Belhaj, World Bank Vice President for Middle East and North Africa, made the announcement to Tunisian Prime Minister Najla Bouden during a visit. The World Bank official also indicated that the US-based institution will help […]
Tunisia has adopted the 2022 budget short of around $2.8 billion amid economic hardship that has hit the country also gripped by an unprecedented political crisis, triggered since July 25 after President Kais Saied has seized all major powers. The Tunisian government, Webdo Tunis reports, will present this Tuesday the draft of the financial act […]
The UN Secretary-General has announced in a recent report that the budget of the UN mission in the Sahara, MINURSO, will be increased by 7.6 percent to improve ground and air surveillance operations conducted by the mission. The UN Secretary-General António Guterres who also called on MINURSO observers to be more vigilant, has closed the […]
As Egypt’s fiscal year for 2017-2018 will be commencing on July 1, the Finance Ministry has announced that a “social package” aimed at easing the pain of the ongoing austerity measures will be included in the budget. More than 90% of the citizens will benefit from the package through food subsidies, tax breaks and increment […]
Plummeting oil prices and dwindling revenues prompted the Algerian government to adopt austerity measures including tax hikes and subsidies cuts leading to protests, notably in the restive south and northeast of the country. Algeria, which has nurtured a system based on generous handouts to the population taking the form of subsidies to fuel, electricity, housing […]
Tunisian Finance Minister Elyes Fakhfakh, has announced the introduction of its planned reform of the country’s tax system which will affect the direct, indirect and local taxations. Task groups have been set up by the ministry to propose ideas about how to revolutionize the tax system, modernize and adapt it to the country’s realities. Tunisia […]
The EU adopted on Wednesday the second part of its 2013 assistance package for Palestine worth €148 million. The funding from the European Neighbourhood and Partnership Instrument is meant to ensure continuation of critical support to the Palestinian Authority (PA) and United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) […]