The semi-annual review report of the State Bank of Pakistan, published on 18 September 2023, revealed that the profit of the banks was 126 billion rupees in the first half of previous year. It has increased to more than double, to 284 billion rupees in the first half of this year. The main reason for […]
Finally, after long deliberations between the government and Parliament representatives, conflicts and consensuses between the political blocs that extended for five months, the House of Representatives voted on Monday, corresponding to 12/6/2023, on the draft federal budget law for Iraq for the fiscal years (2023, 2024, 2025), after adding a new article stipulating not dealing […]
Successive Pakistani governments have consistently faced the challenge of fiscal deficits. It means the state is continuously short of resources to spend on the people. This shortage of resources faced by the state is the direct consequence of the economic governance structures implemented in the country. Pakistan’s ruling elite implements the capitalist economic model in […]
On June 1, 2023, Hasina government has unveiled the national budget titled “Towards a Smart Bangladesh after the march of development” for the fiscal year 2023-24. Finance Minister AHM Mustafa Kamal placed Taka 7.6 trillion budget which is 13.5 percent bigger than FY 23 with a ‘supposed’ focus on tackling inflation, generating jobs, and efforts […]
The government’s major concerns in finalizing the FY24 budget are limited revenue income and compliance with IMF loan requirements. The record budget of Taka 7617.85 billion has a record deficit of Taka 2578.85 billion when foreign funding and loans are factored in. To meet the massive spending, a total revenue target of Taka 5039 billion […]
The International Monetary Fund (IMF) said that Jordan’s prudent fiscal and monetary policies have maintained economic stability and a positive future outlook for external creditors and global rating agencies. This came in a press interview with “The Kingdom” conducted by the Resident Representative of the International Monetary Fund in Jordan, Kareem Ismail, on 12/4/2023.
On Sunday evening, 26 March 2022, the Iraqi Council of Representatives held its session dedicated to voting on the rest of the clauses to amend the election law, and the session witnessed complete chaos, due to the coordination framework’s insistence on passing the amended St. Lego law, which is the adoption of the electoral measure […]
At a time when Tunisia is being destroyed and its situation is systematically aggravated, and this crisis is being internationalized so that the senior officials of the colonial countries issue fatwas and their media talk about the imminent moment of collapse, in order to create an international public opinion that legitimizes attempts at foreign intervention. […]
The current political chaos, riots and instability that people are witnessing, on TV screens and social media platforms, is simply a battle for power and revenge. Neither side is sacrificing for the sake of the people. Both are looking for the support of the United States, to ensure their next turn in power. US Congressman, […]
At the end of February 2023, India’s Minority Affairs Minister Smriti Irani significantly slashed the budget to support the social and political inclusion of underrepresented groups in India. This has left many Muslim women vulnerable to losing out on scholarships and assistance in allowing them to make progress in education and career goals. Last year’s […]
The United Kingdom has had 3 Prime Ministers (PM) and 4 Chancellors of the Exchequer (Finance Minister) over the past 3 months. The ruling Conservative Party (Tories) are languishing in the opinion polls as much as 30% behind the opposition Labour Party which itself is populated by politicians lacking in experience and standing to lead […]
Headlines: Tunisia’s New Constitution to Remove Reference to Islam Pakistan needs $41bn in next 12 months Imran Khan: Pakistan May Break-up
Pakistan’s Current System Secures the Economic Interests of the Kafir Colonialists Sufficient revenues in the state treasury are essential for looking after the affairs of the people and managing the state expenses, such as the armed forces, health and education. However, in Pakistan’s current system, both democracy and dictatorship take turns to secure the economic […]
On June 6, 2021 East African Finance ministers tabled their national budgets in their parliaments for the fiscal year 2021/22. In Tanzania’s context, the government plans to collect and spend a total of Tsh36.32 trillion ($15.59 billion), as its budget was tabled by the new Minister of Finance and Planning, Dr Mwigulu Nchemba.
On Thursday, 10th June 2021, the Cabinet Secretary for Treasury Ukur Yatani tabled the Ksh.3.632 Trillion spending plan for FY2021/2022. The Budget seen has the largest in Kenya’s history with a deficit of about Ksh 1.2 Trillion. The Ksh 1.97 Trillion of the budget will be collected through taxation while Ksh.1.63 coming from Loans and […]
Bangladesh’s Finance Minister AHM Mustafa Kamal on 3 June 2021 has announced BDT 603,681 crore annual budget for the fiscal year 2021-22. With the rosy title ‘Bangladesh Towards a Resilient Future Protecting Lives and Livelihoods’, this is in fact the biggest ever ‘pro-capitalist budget’ that Hasina government has laid down with corporate tax cuts, reduced […]
The increase in taxes in Ukraine will provoke a slowdown in the economy and will automatically lead to an increase in prices for goods and services. This was stated by investment analyst Eric Nyman.
After three months of tension and altercation between members of parliament with insults and thrashing of hands, the Iraqi parliament approved the 2021 budget, which amounts to 130 trillion Iraqi dinars (89.65 billion dollars), Iraq depends in its budget on the oil it exports.
The CVs of Pakistan’s Governor of State Bank of Pakistan and Finance Minister speak volumes about their Western credentials. Both have degrees from supposedly prestigious institutions, and have worked in many developed countries. And yet, beyond their research publications, one has the right to ask exactly which developing countries have they transformed into developed countries? […]
