budget

Top Five Challenges Facing Gordhan

Finance minister Pravin Gordhan faces what could be his most difficult budget speech to date as he seeks to stimulate the economy while containing expenditure, according to Global Credit Ratings (GCR) CEO, Marc Joffe.
 
The minister is expected to present the Medium Term Budget Policy Statement (MTBPS) to Parliament on 26 October.
 

Lack of Funding Threatens Climate Change Response

According to Madalitso Mwando, Zimbabwe is struggling to pay for measures to cope with climate stresses and weather-related disasters, such as recent floods, amid domestic spending cuts and slow progress in accessing international finance.

Mwando says the budget for the Ministry of Environment, Water and Climate has been reduced to US$52 million for 2015, from US$93 million set aside for 2014.

Teachers Demand More Education Funds

Teachers in Zambia have urged the government to increase the budgetary allocation to the education sector if Zambia is to achieve the Vision 2030 development agenda.
 
Zambia National Union of Teachers deputy general secretary, David Banda, says the education sector continues to face numerous challenges in its efforts to deliver quality education.
 

New SME Ministry to Achieve NDP Goals

The new ministry of small business development is aimed at achieving objectives of the National Development Plan (NDP), among others job creation, expanded black ownership and transformation.
 
The ministry is backed up by the latest national budget that outlines numerous plans to stimulate development of the small and medium enterprises (SME) sector.
 

NGO Calls for Action Against Health MEC

The Treatment Action Campaign (TAC) is calling for the suspension of the Free State's health MEC and for a full disclosure of the province's health finances.

In a press statement, the organisation points out that, "Health MEC Dr Benny Malakoane must be suspended with immediate effect with an independent investigation into his conduct and failure to act [over problems in the health sector]."

Govt Fails to Provide for Citizens

A report states that the national budget has failed to provide adequately for vulnerable citizens as the economic crisis extends.

According to the Confederation of Zimbabwe Industries, about 700 firms have shut down in the past 12 months, increasing the number of jobless people who are in need of state aid.

A parliamentary report on social welfare says the 2014 national budget has failed to provide adequately for items that are critical for assisting vulnerable citizens.

​Global Spending on Cancer Medicines to Exceed US$150

Worldwide spending on cancer medicines will exceed US$150 billion by 2020, driven by the emergence of expensive new therapies that help the immune system to attack tumours, according to a global oncology report released by IMS Health Holdings.

That represents an annual global growth rate for oncology drug spending of 7.5 percent to 10.5 percent through 2020, up from last year's IMS forecast of six to eight percent growth through 2018.

The Medium Term Budget Policy Statement

The Finance Minister’s Medium Term Budget Policy Statement (MTBPS) was overshadowed by the student activism outside Parliament as the #FeesMustFall campaign gained momentum. We have withheld this Response pending further details of how President Jacob Zuma’s assurance that there would be zero increase in fees next year would be financed, as this would impact on the MTBPS. To date however, no details have been revealed.
 

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