Budget 2021: Malaysia await most important budget ever PUTRAJAYA: Malaysia will table its "most important" annual budget on Friday, with preserving people's lives and livelihoods, and the economy topping the priority according to Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. Tengku Zafrul is hopeful of a good recovery next year, although that would hinge on how the government manages the double whammy of economic and health crises. "I think this is the most important budget in our history. It will be different from the previous ones because we are going through the worst crisis. It's a combination o
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- On Friday, 27 September, 2019, the Minister of Finance, Honourable Dr. Bwalya Ng’andu, MP, presented the 2020 National Budget to the National Assembly of Zambia. The theme of the budget is “Focusing national priorities towards stimulating the domestic economy”. In this budget the Minister highlighted among other things, some tax incentives and sources of revenue for the year 2020. Among the tax incentives, he proposed the suspension of import duty, for three years, on the importation of machinery for processing of solid waste to generate electricity and produce organic fertilizers as well as on selected aqua culture equipment. The Minister did not propose any changes to the Pay As You Earn (PAYE) tax which remains as follows: Annual Income (K) Tax Rate (%) First 39,600 0 39,6001 – 49,200 25 49, 201 – 74, 400 30 Above 74, 401 37.5 Briefly discuss the effect of the two tax incentives highlighted in the statement above Briefly explain the various…If you were given the chance to make your own 2021 National Budget Plan, which of the executive departments of the Philippines would get the lion's share of the budget? (Note: Please choose the Department of Health since we are in the middle of the pandemic.) GUIDE QUESTIONS Why did you choose that particular department to receive the lion's share of the budget? Explain briefly. What are the projects and programs that should be implemented? Are these revenue expenditures or capital expenditures? Explain. How would be these projects implemented? Are these for the long-term and on a by-phase basis? Where would be the location of the projects? Rural areas and/or urban areas? How long do you see the department getting the lion's share? Justify the forecast. References:https://dbm.gov.ph/images/pdffiles/201229-2021-Budget-at-a-Glance.pdfhttps://www.dbm.gov.ph/wp-content/uploads/BESF/BESF2009/I2.pdfThank you!Assuming you are the Minister of Finance and Economic Planning for Nigeria, in charge of Fiscal Policy. The Research Director of the Ministry brought you the following data on Nigeria’s for the previous fiscal year, 2021. An examination of the data reveals that, during the fiscal year 2021, households in Nigeria saved 20% of their disposable income (Yd) and spent the rest on consumption. In addition, ₦5,000.00 was spent on Consumption expenditure (C), which is independent of income and Gross Private Investment (I) was ₦ 7,000.00. Total Government expenditure (G) which stood at ₦8,000.00 was supposed to be financed by a lump sum tax of ₦2,000.00 (independent of income) and a proportional tax rate of 25% of national income. Exports (X) stood at ₦2,500.00. In addition, the country’s import (M) during the previous fiscal year comprises of ₦1,000.00 which was independent of the country’s national income and 10% which was dependent of the country’s national income. Given these data on…
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- Assume you are the Minister of Finance and Economic Planning for Ghana, in charge of Fiscal Policy. The Research Director of the Ministry brought you the following data on Ghana for the previous fiscal year, 2021. An examination of the data reveals that, during the fiscal year 2021, households in Ghana saved 20% of their disposable income (Y) and spent the rest on consumption. In addition, GH¢5,000.00 was spent on Consumption expenditure (C), which is independent of income and Gross Private Investment (I) was GH¢7,000.00. Total Government expenditure (G) which stood at GHe8,000.00 was supposed to be financed by a lump sum tax of GH¢2,000.00 (independent of income) and a proportional tax rate of 25% of national income. Exports (X) stood at GH€2,500.00. In addition, the country's import (M) during the previous fiscal year comprises of GH¢1,000.00 which was independent of the country's national income and 10% which was dependent of the country's national income. Given these data on Ghana…Assume you are the Minister of Finance and Economic Planning for Ghana, in charge of Fiscal Policy. The Research Director of the Ministry brought you the following data on Ghana for the previous fiscal year, 2021. An examination of the data reveals that, during the fiscal year 2021, households in Ghana saved 20% of their disposable income (Y) and spent the rest on consumption. In addition, GH¢5,000.00 was spent on Consumption expenditure (C), which is independent of income and Gross Private Investment (I) was GH¢7,000.00. Total Government expenditure (G) which stood at GHe8,000.00 was supposed to be financed by a lump sum tax of GH¢2,000.00 (independent of income) and a proportional tax rate of 25% of national income. Exports (X) stood at GH€2,500.00. In addition, the country's import (M) during the previous fiscal year comprises of GH¢1,000.00 which was independent of the country's national income and 10% which was dependent of the country's national income. Given these data on Ghana…Assume you are the Minister of Finance and Economic Planning for Ghana, in charge of Fiscal Policy. The Research Director of the Ministry brought you the following data on Ghana for the previous fiscal year, 2021. An examination of the data reveals that, during the fiscal year 2021, households in Ghana saved 20% of their disposable income (Y) and spent the rest on consumption. In addition, GH¢5,000.00 was spent on Consumption expenditure (C), which is independent of income and Gross Private Investment (I) was GH¢7,000.00. Total Government expenditure (G) which stood at GHc8,000.00 was supposed to be financed by a lump sum tax of GH¢2,000.00 (independent of income) and a proportional tax rate of 25% of national income. Exports (X) stood at GH¢ 2,500.00. In addition, the country's import (M) during the previous fiscal year comprises of GH$1,000.00 which was independent of the country's national income and 10% which was dependent of the country's national income. Given these data on Ghana…
- 36) An automatic fiscal stabiliser is A) a monetary or fiscal policy that aims to smooth out the business cycle. B) the tendency for inflation to fall as unemployment rises. C) a tax or form of government expenditure that has the effect of reducing the size of the multiplier. D) the tendency for exchange rates to adjust automatically to changes in the demand and supply of foreign currencya) Why can't the government run a budget deficit in a one- period macroeconomic model? b) Why are government transfer payments not included in (expenditure-based) GDP?Africa's government has increased its spending this year, leading to a growing budget deficit. How will this growing budget deficit affect the economy? Your answer should discuss interest rates, private investment, and aggregate expenditure.