the state’s ability to fund government budget and current account deficits, resulting in profound borrowing. As the situation progressed for the worst, the Creek economy relied heavily on international capital markets, which only aided in making the country extremely vulnerable to any shifts in investor confidence. Access to capital at low interest rates after adopting the euro, and weak enforcement of European Union (EU) rules concerning debt and deficit ceilings facilitated Greece’s accumulating
Words: 2351 - Pages: 10
for the patients, spending, and how it will affect the future of health care. The Patient Protection and Affordable Care Act (PPACA) were signed into a law in March 2010. The PPACA main goal is to decrease the number of Americans uninsured and to reduce the cost of health care. Implementing PPACA is a challenge since every sector of health care is affected. Paul Keckley, Executive Director of the Deloitte Center for Health Solution said there were two significant realities with PPACA, which are
Words: 819 - Pages: 4
slow down to 2.4 percent in FY10/11. The Pakistan economy grew by an estimated 3.7 percent in 2011/12, against the pre-flood targeted growth rate of 4.2 percent. Inflation declined, but continued its four-year run in double digits, and the fiscal deficit is also estimated to have reached about 8 percent of GDP, double than budgeted, fueled in part by continuing energy subsidies. On a more positive side, exports remained mildly positive and strong remittances crossed the
Words: 2222 - Pages: 9
instability that both caused and was caused by the Euro crisis threatens the further perpetuation of this currency. The onset of the Euro crisis came about when the Greek government admitted to a budget deficit much larger than they had previously divulged. Interest rates skyrocketed and, despite efforts to reduce spending, Greece ultimately fell bankrupt. Concerns over the decline of a state that represents only 2.5% of the EU’s GDP could have been redressed, had it not been for inflexible provisions
Words: 1706 - Pages: 7
Working Paper Series DOES SUBSIDY REMOVAL HURT THE POOR by Manson NWAFOR Kannayo OGUJIUBA Robert ASOGWA Les Cahiers du SISERA – 2006 / 2 AFRICAN INSTITUTE FOR APPLIED ECONOMICS (AIAE) DOES SUBSIDY REMOVAL HURT THE POOR by Manson NWAFOR1 Kannayo OGUJIUBA Robert ASOGWA This research was undertaken with the financial support of the United States Agency International Development (USAID) and the International Development Research Centre (IDRC), Ottawa, Canada February 2006 1 Corresponding author
Words: 10029 - Pages: 41
is 2-3% Sustainable levels of Public and National debt o Public debt borrowing by public sector from private sector Influenced by government budget deficits/surpluses o National debt borrowing by domestic residents from foreign countries Domestic residents include both govts and private sector Influenced by an economy’s current account deficits/surpluses o Unsustainable debt policy Levels of debt where too much borrowing has occurred relative to the income flow that will be used to pay
Words: 6518 - Pages: 27
(MOF) in the Budget 2010 on the implementation of GST had created various reactions from practitioners, academicians, general public and most important businesses. GST is one of the tools that are proposed by the Government to reduce continuous deficit budget in Malaysia. This paper discusses the GST as a new tax reform in Malaysia, and covers several issues in order to enhance the understanding and readiness among Malaysian in adopting GST. Keywords: Tax reform; GST; budget deficit. 1. Introduction
Words: 3535 - Pages: 15
revenue mobilisation and prudent budget management helped maintain macroeconomic stability and discipline in fiscal front. Furthermore, the increasing global demand for goods and services after recovery has helped achieving higher growth in foreign trade, while soaring global food and non-food prices has created inflationary pressure in the country. Alongside adopting various administrative and structural measures, monetary policy instruments have also been used to reduce the inflationary pressure. Moreover
Words: 7602 - Pages: 31
2.0 Introduction The banking industry has undergone tremendous changes after the Asian Financial Crisis in year 1997. CIMB bank, as a major player in this industry, has faced a lot of challenges from local and international. As a growing bank in that time, CIMB bank has struggled hardly to become the best financial institution in Malaysia. In recent years, the government has liberalized the banking industry, which allows more foreign financial institutions to start their business here. This has
Words: 8965 - Pages: 36
Statement by the International Monetary Fund Delivered by Mohsin S. Khan Director, Middle East and Central Asia Department At the Pakistan Development Forum Islamabad, March 17-19, 2004 I. Introduction 1. The 2004 Pakistan Development Forum (PDF) provides a timely opportunity to discuss Pakistan's recently finalized Poverty Reduction Strategy Paper (PRSP) "Accelerating Economic Growth and Reducing Poverty: The Road Ahead." Last week the IMF Executive Board endorsed Pakistan's PRSP as a comprehensive
Words: 2145 - Pages: 9
