budget

The Cabinet has finalized its contributions to the 2025 Budget, which Finance Minister Enoch Godongwana is poised to present to Members of Parliament. This marks a significant moment in our fiscal planning. In a bid to craft a responsible and inclusive financial blueprint, ministers convened for an extraordinary session dedicated to navigating the intricate details of the Budget. This was not merely a routine meeting—it was a second attempt after the Cabinet previously dismissed a revised proposal that notably lacked the…

On the horizon looms a pivotal moment for South Africa’s fiscal landscape as Finance Minister Enoch Godongwana prepares to present the much-anticipated 2025 Budget Speech. This speech is more than just a financial outline; it serves as a reflection of the government's priorities, intricately aligned with President Cyril Ramaphosa's recent State of the Nation Address. The task ahead is daunting: how to strike a balance between fostering economic growth and providing essential social support, all while navigating the…

The diplomatic ties between South Africa and the United States have recently taken a sharp turn toward tension. Central to this escalating strain is a dramatic clash between two notable figures: Elon Musk, a South African-born entrepreneur and advisor to former President Trump, and Julius Malema, the fiery leader of the Economic Freedom Fighters (EFF). Tensions came to a head when Musk, calling Malema an "international criminal," demanded sanctions against him for incendiary remarks during a rally. These remarks included the…

The World Health Organization (WHO) is gearing up for a budgetary makeover in the wake of the United States’ withdrawal declaration, as communicated in a poignant internal memo from its leader. WHO Director-General Tedros Adhanom Ghebreyesus laid it all bare for staff in a message that sent ripples of concern through the agency. It was on the very first day of his second term that US President Donald Trump dropped the bombshell. He announced his intention to pull the country out of the WHO, claiming that the global health…

The Senate of Liberia has agreed to the draft budget for 2025 put forth by a faction within the House of Representatives, identifying themselves as the "majority Bloc." However, this move hasn't come without its share of controversy. Analysts, including the beleaguered Speaker Fonati Koffa and a former Supreme Court justice, have raised eyebrows about the legitimacy of this financial document. They point to ongoing tensions between the Speaker's supporters and those seeking to remove him from office. This hefty budget,…

MOGADISHU, Somalia - Somalia's parliament, armed with two chambers, has given a thumbs-up to a $1.3 billion budget, marking a high point over the years. This financial plan is set to boost various economic sectors, including funding for ongoing infrastructure projects. This approval covers both spending and income as outlined in the Appropriation Act for 2025, ensuring that many governmental departments can pursue their programs seamlessly over the next year. In a unanimous vote, MPs pushed the budget to $1.3 billion, a…

Mogadishu (AX) — The bicameral legislature of Somalia has greenlit a substantial budget of $1.36 billion for the fiscal year 2025, reflecting a robust increase of 24.4% over the previous year. This decision came during a parliamentary session held on Monday in the capital, Mogadishu. In attendance were 143 Members of Parliament and 32 senators. The First Deputy Speaker of the People's Assembly, Saadiya Yasin Haji Samatar, confirmed that an overwhelming majority of 172 lawmakers backed the budget, with only two MPs voting…

According to recent reports, the UK armed forces are poised to receive a substantial £3 billion boost. This financial injection comes as Rachel Reeves gears up to present the Labour government’s inaugural Budget. Diving into the details, the Chancellor plans to delineate an uptick in defence spending for the upcoming year during her address in the House of Commons. A portion of this windfall will be earmarked for a pay increase for soldiers retroactively effective from April, as noted by the Telegraph. Additionally, these…

Bal'ad (AX) — In a decisive gathering led by President Abdullahi Hussein Guudlawe in Bal'ad, Hirshabelle State's Council of Ministers gave the green light to a budget of $33,558,000 for the fiscal year 2025 on Thursday.During this pivotal session, the Minister of Finance and Economic Development unveiled the 2025 Budget Allocation Act. This plan ventures to bolster the number of civil servants in Hirshabelle's administration."We've secured $33,557,830 for the upcoming year's financial blueprint," proclaimed the Council in…

 The Somali administration has greenlit a federal budget of $1.34 billion for 2025. This represents a hefty 24.4% uptick from last year’s allocation of $1.079 billion. This financial boost stems from an uptick in local earnings and the need to tackle ongoing expenses, with homegrown revenue expected to hit $429.4 million, up 24% from $346.2 million in 2024.Taking a gander at the 2025 budgets of East African Community (EAC) nations:Kenya: $31.9 billion (up by 3.1% from 2024/25) Uganda: $19.61 billion (a whopping 36% increase)…