The local government debt Abstract: As China’s economy has increasingly grown at an incredible high speed about average 9.8% gain every year before the 2008 financial‚ and china has became the world second-largest economy. Local government plays an important role in keeping such a rapid growth through the large amount of investment. However‚ the local government debt has increased substantially‚ following the growth of total economy. And the problems and potential troubles brought by the local
Premium Local government Debt Finance
LOCAL GOVERNMENT FINANCE AND THE CHALLENGES OF GLOBAL ECONOMIC CRISIS BY TOMORI M. ADIJOLOLA lolatomori@yahoo.com BEING A PAPER PRESENTED AT: THE WORKSHOP ON PROPERTY TAX SYSTEM AND LOCAL GOVERNMENT FINANCING ORGANISED BY: MINISTRY OF LOCAL GOVERNMETN AND CHIEFTAINCY MATTERS IN COLLABORATION WITH MESSRS WALE ADENIYI PARTNERSHIP MARCH 2009 LOCAL GOVERNMENT FINANCE AND THE CHALLENGES OF GLOBAL ECONOMIC CRISIS 1.0 INTRODUCTION As the biggest economic recession in 70 years continues to undermine
Free Tax Public finance
Project Proposal Local Government in the Russian Federation Author: Viktoria Faculty of Public Administration Research supervisor: O.Kalugina Moscow 2012 Intoduction. Abstract. The “new history” of local government in Russia dates back to the beginning of the 1990s
Premium Russia Local government United States
Brief Historical Background of Local government System in Nigeria Regardless of nomenclature‚ local government is a creation of British colonial rule in Nigeria. It has overtime experienced change in name‚ structure and composition. Between 1930s and 1940s‚ for instance‚ local government was known as chief-in-council and chief-and-council‚ where traditional rulers were given pride of place in the scheme of things. In the 1950s‚ election was introduced according to the British model in the western
Premium Local government British Empire
THE LOCAL GOVERNMENT CODE OF THE PHILIPPINES BOOK II LOCAL TAXATION AND FISCAL MATTERS TITLE ONE. – LOCAL GOVERNMENT TAXATION CHAPTER 1. – GENERAL PROVISIONS SECTION 128. Scope − The provision herein shall govern the exercise by provinces‚ cities‚ municipalities‚ and Barangays of their taxing and other revenue−raising powers. SECTION 129. Power to Create Source of Revenue − Each local government unit shall exercise its power to create its own sources of revenue and to levy taxes‚ fees‚ and
Premium Tax Value added tax Taxation
Law No. 25 of 1999 on Financial Balance of the Central Government and the Regions‚ and the rules for its implementation in particular Regulation Number 105 Year 2000 on the Financial Management and Accountability of the starting fiscal year 2001‚ there has been a renewal in financial management area. With this autonomy‚ the area is given broad authority to take care of their own household with minimal government intervention. Local governments have the right and authority to use the vast financial
Premium Generally Accepted Accounting Principles Financial statements Income statement
INTRODUCTION Local government areas are suppose to be the engines of national development. A quite rural community grows into a busting city‚ and the local leaders makes this possible. In an ideal and well developed nations of the world‚ when people are tired of living in the cities they retire or relocate to rural communities where life is less strenuous. However‚ the opposite is the case in Nigeria; living in a rural community is difficult because nothing works as it should. People are subjected
Premium Local government
1 LOCAL GOVERNMENT’S FINANCIAL CHALLENGES A fresh look at local government’s deliver obligations and resource requirements is needed. HILDEGARDE FAST makes the case for a differentiated approach. It is common knowledge that many municipalities in South Africa are financially in dire straits. In the public discourse‚ the focus is often on operational issues such as poor revenue collection‚ unsustainable debt burdens‚ and lack of financial management capacity. In seeking to understand the financial
Premium Poverty Economics Municipality
proposed program and is presented into two parts‚ namely: Part I – National Government Budget‚ and Part II - Budgets of the three (3) Energy Corporations. | The FY 2008 Budget Program | The total proposed expenditure program for FY 2008 amounts to P1.227 Trillion‚ computed on an obligation basis‚ as presented in Table I below and in Annex A. | Table I Summary of Appropriations and Obligations of the National Government‚ FY 2006-2008 (In thousand pesos) | | PARTICULARS | 2006 (Actual) |
Premium Expense 1916 1917
LOCAL GOVERNMENT AUTONOMY IN NIGERIA; A NEED FOR CONSTITUTIONAL REFORM "The basic irony between the U.S system and ours is that; while the various forms of local government are working wonders even when they are not mentioned anywhere in the U.S constitution; complaints over the failings of the Local Governments abound here even when they are entrenched in and catered for by
Premium Federal government of the United States Local government United States Constitution