YANGON Herren Nike Shox OZ D Weiß Schwarz Schweiz , March 8 (Xinhua) -- Myanmar has forecast a continued budget deficit of 5.22 percent of the gross domestic product (GDP) in the next fiscal year of 2015-16, exceeding the target of 5 percent of GDP deficit recommended by the International Monetary Fund (IMF).
A consultation workshop of the 2015-16 pre-state budget has called for bringing the budget deficit growth under control to enable it does not exceed 5 percent of the GDP, official media reported Sunday.
The workshop on Saturday, which brought together lawmakers, economists Damen Nike Shox R4 Schwarz Rosa Schweiz , civic groups and other stakeholders, stressed the need of a balanced budget, calling for raising revenue and reducing spending, pointing out the problem of tax evasion and slow growth in the country's productive sectors.
Myanmar's persistent deficit totaled more than 7.2 trillion Kyats ( 7.2 billion U.S. dollars) for the three previous fiscal years, during which deficit for 2014-15 amounted to 2.751 trillion Kyats Herren Nike Shox NZ Weiß Schwarz Schweiz , accounting for 4.16 percent of the GDP.
The workshop provides suggestions on the 2015-16 state budget which is soon to be discussed in the ongoing parliament session.
NAIROBI, Feb. 16 (Xinhua) -- Kenya's domestic debt has surged to 14.7 billion U.S. dollars, an increase of 400 million dollars since January.
The debt has generally been on the rise since December 2014, according to new data from the Central Bank of Kenya (CBK) received Monday. However, it accelerated faster in the last week of January Herren Damen Off White x Nike Vapormax Schwarz Weiß Schweiz , rising by 293 million dollars.
The sharp rise in domestic debt is attributed to increased sale of Treasury bonds and bills. Treasury bonds contribute over 73 percent of the domestic debt, with the value standing at 11 billion dollars, up from 10.5 billion dollars at the beginning of January.
The National Treasury in January successfully re-opened five- year and 20-year bonds that attracted 220 million dollars from both local and foreign investors.
Currently, the institution is selling a new two-year bond and has re-opened a 10-year bond as it targets to raise 275 million dollars, which will push up the overall domestic debt.
Similarly Herren Off White x Air Jordan 1 The Ten Rot Weiß Schwarz Schweiz , the government has intensified the sale of Treasury bills of between 33 million dollars and 55 million dollars. The value of Treasury bills, on the other hand, stands at 3.3 billion dollars, up from 3.2 billion dollars at the start of this year.
Other domestic debt whose value has been on the rise include overdraft at the CBK, clearing items in transit Herren Damen Off White x Nike Presto Virgil Abloh Schwarz Schweiz , advances from commercial banks, Pre-1997 Government Overdraft and Tax Reserve Certificates.
The East African nation's domestic debt, according to the World Bank, is sustainable as it consists of 46 percent of the gross domestic product.
East African nation plans to issue more bonds this year to investors in Europe and Asian markets to cut domestic borrowing that is too costly.
Meanwhile, the CBK data showed that Kenya's foreign exchange reserves have risen marginally to over 7.2 billion dollars or 4.65 import cover Herren Damen Off White x Nike Blazer Studio Mid The Ten Weiß Schweiz , from 7.17 billion dollars or 4.63 months of import cover at the end of January.
The marginal rise in the foreign exchange reserves means the CBK can effectively save the shilling, which is currently exchanging at an average of 91 against the dollar, when it is under-pressure from international currencies.
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