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Date: 31 Jan 2012
Start time: 18:30
Zimbabwe’s President Robert Mugabe appeared intent early in 2011 on holding elections later in the year, in a bid to end an unhappy coalition with Morgan Tsvangerai, but a number of factors are reported to be slowing down his drive, Zimbabwe news sites are reporting 28 April. His wife Grace’s poor health and possibly his own failing health, growing pressure from neighbouring countries to resolve Zimbabwe’s political situation, and splits within his Zanu PF party are cutting into the 87-year-old leader’s plans. But the oddest blow of all might be that thrown by the country’s finance minister, Tendai Biti, who says Zimbabwe can’t afford the $400,000 needed to hold a general election, with a deficit of $150 million and all revenue targets for the year missed, to date.
Links to other sites: allAfrica/The Standard, allAfrica/Daily Nation
Belt-tightening to remain in place, but traffic, research and training will receive additional monies
Balancing the Swiss budget: in the black in 2010
Bern, Switzerland (GenevaLunch) - The final figures for 2010 are in and the Swiss government can confirm it was in the black: a surplus of CHF3.6 billion for the regular budget replaces the budgeted deficit of CHF2 billion for the Swiss federal budget.
The turnaround, ascribed to a “surprisingly good development” of the economy led to additional revenues of CHF4.6b, says Bern, while expenses were CHF1b less than budgeted. The economic recovery was more “robust” and earlier than expected, the Federal Council notes in a statement.
Two-thirds of the additional revenues come from the federal income tax, CHF1.4b and the federal withholding tax, CHF1.7b.
Taking into account “extraordinary expenses” of CHF0.4b, the final balance is a 2010 surplus of CHF3.2b.
The budget programme for 2012-2015 was approved by the Federal Council once it accepted the 2010 figures 16 February, with funds released that had been approved in reserve for research and education, as well as traffic improvement plans.
Lake Geneva's boats have bluer skies, fairer weather ahead
Lausanne, Switzerland (GenevaLunch) – The CGN boat company that runs Lake Geneva’s Belle Epoque paddlewheelers as well as commuter ferries will be able to stay afloat, literally, thanks to a decision by canton Vaud to create a holding company. The compromise solution to the company’s financial difficulties appear to be acceptable to its partners, neighbouring cantons, as well as employees.
The Compagnie générale de navigation was faced earlier this year with difficulties in making payments because of a CHF8 million loss that was the result of covering its pension plan.
Lausanne, Zurich bottom of list in annual public administration school review
Swiss cantons financial index, source, IDHEAP, 2010. Legend: combined index, financial health, financial management
Lausanne, Switzerland (GenevaLunch) – Geneva and Neuchatel fare well in the annual review of 20 Swiss cities by Idheap, the Swiss Graduate School of Public Administration in Lausanne. Zurich and Lausanne do less well, figuring at the bottom of the list.
The school, which publishes a number of studies and regular reports on Swiss public finances, presented the 2009 comparative report to journalists 24 November, although the report came out in late October. It measures the financial health of the Swiss confederation, the cantons and a selection of cities. It bases its ranking on two main factors: the extent to which expenses are covered by revenues and the quality of financial management.
Lausanne and Geneva, contrast in financial management
The one-child family programme begun by Chairman Mao in China to restrict the country’s population growth is starting to sprout a new set of problems: a generation in its thirties is starting to struggle with the cost of taking care of aging parents as well as young children, reports Xinhua in a lengthy feature article that details the intricate financial relationships among generations in typical Chinese families.
Geneva, Switzerland (GenevaLunch) – The Swiss government will decide next Wednesday how to best withdraw its support for Kofi Annan’s Global Humanitarian Forum (GHF), according to Le Temps newspaper, which says the decision has already been taken. The Wednesday meeting will review whether to pay CHF1 million in debts incurred by the forum or whether to let it sort out its own affairs, says journalist Stéphane Bussard in an article Friday 19 March. Bussard does not cite a source.
Walter Fust, who heads the non-profit foundation created in 2007, told Le Temps Thursday that he was not aware any such decision had been made.
Cash to make the paddles go round
Lausanne, Switzerland (GenevaLunch) - The three cantons that subsidize Compagnie Générale de Navigation (CGN) operations on Lake Geneva have advanced funding for the 2010 budget to the tune of some CHF7 million, reports Le Temps 4 November. CGN issued a terse press release in which it said only that its CEO Kurt Oesch had met the government ministers from Vaud, Geneva and Valais who are responsible for funding the boat transport company. (The French département of Haute Savoie contributes about CHF1m a year as well).
Le Temps reports that one of the solutions being mooted may include financial help from the Swiss government.
The view from Vaud
Lausanne, Switzerland (GenevaLunch) – The Vaud cantonal government said 27 October that it projects annual budget deficits of between CHF70 million to CHF360 million over the four years from 2011-2014, the result of its periodic review of cantonal finances. In part, it says, the revision is a reflection of the economic crisis that affects everyone.
Switzerland’s GDP is expected to rise only 0.4 percent in 2010. In Vaud, tax receipts are projected to rise an average of 1.5 percent annually for the foreseeable future, less than expected earlier. Unemployment is sure to rise, further straining the canton’s finances. The deficit is expected to rise by CHF1.8 billion until 2014 with an attendant interest service cost of CHF95m.
