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Sun,19Nov2017

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Mozambique sees growth slowing, austerity measures needed - finance minister

A fisherman bails out his boat in Maputo, Mozambique, May 18, 2016. REUTERS/Grant Lee NeuenburgMozambique, reeling from a sovereign debt crisis, sees 2016 economic growth slowing to 4.5 percent from initial forecasts of 7 percent and needs to bring in austerity measures in an amended budget, Finance Minister Adriano Maleiane said on Thursday.

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Nigeria foreign exchange conundrum, damaging investor, business sentiment

Nigerian currency, Naira. Photo©Sunday Alamba/AP/SIPAA two-week silence from Nigeria's government and central bank on further details or even a timescale for naira liberalisation has left international investors and domestic firms anxious about whether a gameplan has been even formulated or agreed.

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Second budget cut for Congo Republic as oil price fall bites

File photo©ReutersCongo Republic's government is proposing to cut spending in the current 2016 budget by around 9 percent, repeating a similar mid-year revision made last year as low oil prices cut into revenues, the communications minister said.

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DRC proposes slashing 2016 budget by 22%

File photo©ReutersDemocratic Republic of Congo's government is proposing slashing its budget for 2016 by 22 percent, in large part due to lower global metals prices, according to a revised budget to be presented to parliament.

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Nigeria: President Muhammadu Buhari signs delayed 2016 record budget into law

File Photo©ReutersNigeria's President Muhammadu Buhari signed the delayed 2016 budget into law on Friday, ending weeks of wrangling with lawmakers and tripling capital expenditure as Africa's biggest economy contends with its worst crisis in years.

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Buhari, National Assembly resolve 2016 budget impasse

President Muhammadu Buhari. Photo©ReutersNigerian President Muhammadu Buhari has agreed to set up a committee to resolve differences with the National Assembly over the 2016 budget following a month long impasse.

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Nigerian lawmakers to question presidency over long-overdue budget

Photo©ReutersNigerian lawmakers said on Wednesday they planned to hold talks with the presidency over the 2016 budget bill, which has yet to be signed into law by President Muhammadu Buhari after being passed by parliament last month.

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Nigeria: Buhari to check budget "ministry by ministry" before signing

Nigeria's President Muhammadu Buhari. Photo©ReutersNigeria's President Muhammadu Buhari will check the 2016 budget bill passed last week "ministry by ministry" before signing it, he said on Thursday, signaling further delays before the legislation takes effect.

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Nigerian parliament approves 2016 record budget

Photo©ReutersNigeria's parliament approved record spending for 2016 in a budget on Thursday that gave few clues about how Africa's top oil producer can find the money with energy prices still struggling to recover.

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Nigeria to pass revised 2016 budget on March 17

Photo©ReutersNigeria's parliament expects to pass the 2016 budget in Africa's biggest economy on March 17, lawmakers said on Wednesday.

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Nigeria: Thousands of ghost workers fired

File Photo©ReutersNigeria's anti-corruption campaign led by President Muhammadu Buhari has claimed its first major success after nearly 24,000 workers were removed from the public payroll.

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South Africa's austere budget targets deficit to avoid downgrades

South Africa's finance minister Pravin Gordhan delivers the annual Budget speech in Parliament at Cape Town, Wednesday, Feb. 24, 2016. Thousands of South Africans listened to the 2016 budget speech shown live on local television networks. Photo©Mike Hutchings/AP/SIPASouth Africa announced an austere budget on Wednesday aimed at avoiding cuts in its credit ratings, and vowed to focus spending on priority areas after weak economic growth reduced its revenue.

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South Africa to borrow $4.5 bn from global markets over medium term

South Africa's government plans to borrow $4.5 billion from global markets over the next three years, with $1 billion worth of paper planned for the current fiscal year ending March if conditions allow, the National Treasury said on Wednesday.

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South Africa cuts growth outlook as drought weighs

South Africa's 2016 GDP growth could be the lowest since a 2009 recession, reflecting the impact of a severe domestic drought and a depressed global economy, the Treasury said on Wednesday in its budget.

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Nigeria: Parliament delays vote on revised 2016 budget

Nigeria's parliament has postponed voting on the 2016 budget from Feb. 25 because ministers cannot agree on revised public spending plans, lawmakers said on Tuesday.

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Nigeria: Government submits "corrected" version of 2016 budget

President Muhammadu Buhari has submitted a corrected version of the 2016 budget to Nigeria's National Assembly, according to a letter from Buhari read out by the Senate head on Tuesday.

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Nigeria: Buhari asks parliament to withdraw 2016 budget to make changes

Nigerian President Muhammadu Buhari has written to parliament requesting the withdrawal of the 2016 budget in order to make changes, sources at the presidency and Senate said on Sunday.

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Ghana approves $1 bn Eurobonds plan amid opposition

Ghana's parliament on Wednesday approved plans by the government to issue fresh Eurobonds of up to $1 billion to refinance debt and support its 2016 budget for 2016.

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Nigeria: President plans to spend heavily on economy

Nigeria's President Muhammadu Buhari plans to borrow and collect taxes, in order to spend the country out of economic collapse.

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Nigeria's President expects 2016 budget deficit to double to $11 bn

Nigeria expects its budget deficit to double to 2.2 trillion naira ($11 billion) in 2016 as the government plans to revive a flagging economy by tripling capital expenditure, President Muhammadu Buhari said on Tuesday.

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