Stability and continuity are at the heart of the Falkland Islands Government Budget for 2022/23. The Budget recognizes these two themes are essential in the time of continued uncertainty stemming from the global COVID-19 pandemic and the work on global recovery.
Contrary to optimism in world markets, shares in Brazil dropped 3,28% on average following news of a new Brazil Auxilio program intended to give monetary support to some 17 million families described as vulnerable or suffering the consequences of Covid-19. But to achieve this the budget cap on expenditure must be violated or hidden behind some accounting cosmetics.
Ratings agency Moody’s cut the United Kingdom’s debt rating on Friday over the huge economic hit from the coronavirus crisis, Brexit and the lack of clear budget plans from Prime Minister Boris Johnson’s government.
The Falkland Islands government, FIG, up to July 6, had paid out £1,016,570 for Covid support measures from the total approved funding of £8.99m. The figure, from a paper presented to the Executive Council does not include the wool clip purchase scheme, which is expected to total around £2.9m.
Brazil’s economic growth and fiscal outlook this year are shaping up to be worse than official government forecasts, making a return to austerity and reforms next year all the more pressing, Treasury Secretary Mansueto Almeida said
The Falkland Islands Standing Finance Committee has revealed that the government has funded Covid-19 support measures to the tune of £7.983 million. The spending has been offset by underspends from a number of government departments, including Education and Natural Resources, while the Islands Plan budget is expected to underspend by nearly half a million pounds.
The Falkland Islands Government confirmed its commitment to delivering its capital program, despite some disruption caused by the global COVID-19 pandemic. The approved total capital program is valued at £130m over five years and there is significant work on-going to deliver critical infrastructure projects.
Stability and continuity are at the heart of the Falkland Islands Government Budget for 2020/21. The Budget recognises these two themes are essential in the time of uncertainty stemming from the global COVID-19 pandemic.
The Falkland Islands Government this week unveiled plans for a “prudent” budget that maintains the current levels of expenditure but does not propose any increase in fees and charges. The budget aims to keep the current levels of service delivery but shies away from major investments or increases in operating costs.
United States has said it wants to borrow a record US$ 3 trillion in the second quarter, as coronavirus-related rescue packages blow up the budget. The sum is more than five times the previous quarterly record, set at the height of the 2008 financial crisis.