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The year 2023 ended with a bang, not from fireworks but from an unprecedented national debt of P13.42 trillion reported by the Bureau of Treasury, or over 14 percent more than the P11.73 trillion from the previous year. Already at more than 63.5 percent of GDP, this does not yet include debts guaranteed by the national government amounting to P399 billion as of end-2022 and contingent liabilities arising from big-ticket projects with the private sector estimated at P456.2 billion in 2021.
Debt figures in the billions or trillions are simply incomprehensible to the majority of Filipinos. Minimum wage earners paid no more than P500 daily (in the National Capital Region) and their families ultimately bear the heavy price of servicing an increasingly ballooning public debt, and that’s not only in terms of taxes.
Fiscal belt-tightening to pay off debts means cuts in the level and quality of essential public services such as education and health. Unchecked borrowings could be funding environmentally harmful projects that erode local livelihoods and worsen the Philippines’ high climate risk, as debt-funded fossil fuel projects have shown.
Red flags are waving furiously, but who’s taking notice?
Not the Department of Finance, it would seem, from the way it has downplayed the mounting public debt as “manageable” without giving the public the whole picture of the additional costs of government borrowings outside of the interest and principal payments.
But the Citizens Debt Commission plans to find out. Forming the Commission for a Citizens Debt Audit (CDA), leaders and respected individuals from labor, informal workers, academe, the religious community, and other sectors have come together to get to the bottom of the massive public debt that Filipinos are routinely made to shoulder without question.
Organizations such as the Freedom from Debt Coalition and the Asian Peoples’ Movement on Debt and Development embarked on debt audit initiatives in the past that spotlighted questionable debts. Loan-financed projects were investigated based on how they were contracted, where they were spent, and how they affected people and the environment. Among the milestones is the inclusion in the 2017 General Appropriations Act of a section mandating the Congressional Oversight Committee on Official Development Assistance to conduct a debt audit of 20 loans contracted by the Philippine government; and a Senate resolution directing the appropriate Senate committee to inquire, in aid of legislation, into the foreign loans contracted by the Philippine government.
A CDA is a powerful means to enable active citizenship and exercise the people’s right to know and arrive at a deeper understanding of how current debt policies and practices impact public spending for urgent social needs, the fulfillment of human rights, and building climate resilience. It can also capacitate them to participate in discussions on debt management and policy reform, as is their right under a democracy.
It’s high time that the public debt is subjected to closer examination, especially when financial resources are most needed in the face of the multiple crises of livelihoods, public health, and climate, and at a time when a new administration is in place. Surely, how these debts came about and how they were spent is a fair, common-sense ask of our policymakers.
Mae Buenaventura,
Asian Peoples’ Movement on Debt and Development
Read Next
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Feb 13, 2023 (The Expresswire) -- Cloud Core Financial Management Suites Market 2023: | 119 Pages Report Worldwide Industry Trends, Size, Development, Opportunity, and Forecast 2023-2029," gives an intensive examination of the market Segments such as Types [Public cloud, Hybrid cloud] and Application [Large Enterprise, SMEs], Additionally, it covers important aspects of industry like market size, share, trends, and key drivers with SWOT and PESTLE analysis. Cloud Core Financial Management Suites Market research incorporates research methodologies with futuristic and historic performance, key financial statements, CAGR status and revenue estimations in terms of value and volume.
BrowseCloud Core Financial Management Suites Detailed TOC 2023, Tables and Figures with Charts which is spread across 119 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector. Ask for a trial Report
List of TOP KEY PLAYERS in Cloud Core Financial Management Suites Market Report are: -
● Microsoft
● Ramco Systems
● Accounting Seed
● Unit4
● Focus Softnet
● SAP
● Frappe
● FinancialForce
● Infor
● Oracle
● Workday
● Acumatica
● Sage Intacct
Get a trial PDF of the report at - https://www.businessgrowthreports.com/enquiry/request-sample/20226272
Also, the Cloud Core Financial Management Suites Market sector report gives fair, objective assessment and examination of possibilities in the Cloud Core Financial Management Suites Market sector with orderly market concentrate on report containing a few other market essential elements. This certified industry investigator assesses the expense, piece of the pie, amazing learning experiences, advances, market measuring, supply chains, applications, trade and import, organizations, etc., with the sole exertion of helping our clients to pursue all around read business choices.
The key part working in this market has been profiled in a way which uncovers key insights concerning the organizations, including the organization outline, items and administrations, late news, mechanical turns of events, developments, income, key financials, and SWOT examination.
Enquire before purchasing this report - https://www.businessgrowthreports.com/enquiry/pre-order-enquiry/20226272
On the basis of product type, the Cloud Core Financial Management Suites market is primarily split into
● Public cloud ● Hybrid cloudOn the basis of end-users/application, this report covers the following segments
● Large Enterprise ● SMEsCloud Core Financial Management Suites Market Research Methodology:
This report contains information from companies, government agencies, and brokers. This information validates the Cardiac Implants market research report and assists clients in making better business decisions. This report also covers market dynamics. Through extensive secondary and/or primary research, highly-skilled professionals have gathered critical and exact insights.
What are the key powerful factors that are definite in the report?
Cloud Core Financial Management Suites Market Dynamics: The Cloud Core Financial Management Suites Statistical surveying report subtleties the most latest industry patterns, development examples, and exploration approaches. The variables that straightforwardly add to the development of the market incorporate the creation techniques and procedures, improvement stages, and the item model itself, wherein a little change would bring about additional progressions in the general report. These elements are made sense of exhaustively in the examination study.
Get a trial Copy of the Cloud Core Financial Management Suites Market Report 2023
Cloud Core Financial Management Suites Market Viewpoint: The report likewise reveals insight into a portion of the central point, including Research and development, new item dispatches, MandA, arrangements, organizations, joint endeavours, coordinated efforts, and development of the key business members, on a territorial and worldwide premise.
Significant Elements: The Cloud Core Financial Management Suites Market report gives an exhaustive investigation of a portion of the critical variables, which incorporate expense, limit, limit usage rate, creation, income, creation rate, utilization, import/trade, supply/request, gross, piece of the pie, CAGR, and gross edge. Furthermore, the report gives a complete investigation of the key impacting variables and market tendencies, notwithstanding the significant market fragments and sub-portions.
Scientific Apparatuses: The Cloud Core Financial Management Suites Market report comprises the definitively considered and assessed data of the central members and their market scope utilizing a few logical devices, including SWOT investigation, Doorman's five powers examination, venture return investigation, and plausibility study. These Tools have been utilized to concentrate on the development of significant industry members proficiently.
Expected Clients: The Cloud Core Financial Management Suites Market report offers itemized experiences to clients, specialist organizations, providers, makers, investors, and people who are eager on assessing and self-concentrating on this market.
Purchase this report (Price 2980 USD for a single-user license) - https://www.businessgrowthreports.com/purchase/20226272
Detailed TOC of Global Cloud Core Financial Management Suites Market Report 2023
Table of Content
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Cloud Core Financial Management Suites Market Size Growth Rate by Type: 2017 VS 2021 VS 2029
1.2.2 Portable Satellite Terminals
1.2.3 Fixed Satellite Terminals
1.2.4 Vehicular Mobile Satellite Terminals
1.3 Market by Application
1.3.1 Global Cloud Core Financial Management Suites Market Growth Rate by Application: 2017 VS 2021 VS 2029
1.3.2 Military Use
1.3.3 Civil Use
1.4 Study Objectives
1.5 Years Considered
2 Market Perspective
2.1 Global Cloud Core Financial Management Suites Market Size (2017-2029)
2.2 Cloud Core Financial Management Suites Market Size across Key Geographies Worldwide: 2017 VS 2021 VS 2029
2.3 Global Cloud Core Financial Management Suites Market Size by Region (2017-2023)
2.4 Global Cloud Core Financial Management Suites Market Size Forecast by Region (2023-2029)
2.5 Global Top Cloud Core Financial Management Suites Countries Ranking by Market Size
3 Cloud Core Financial Management Suites Competitive by Company
3.1 Global Cloud Core Financial Management Suites Revenue by Players
3.1.1 Global Cloud Core Financial Management Suites Revenue by Players (2017-2023)
3.1.2 Global Cloud Core Financial Management Suites Market Share by Players (2017-2023)
3.2 Global Cloud Core Financial Management Suites Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Company Covered: Ranking by Cloud Core Financial Management Suites Revenue
3.4 Global Cloud Core Financial Management Suites Market Concentration Ratio
3.4.1 Global Cloud Core Financial Management Suites Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Cloud Core Financial Management Suites Revenue in 2021
3.5 Global Cloud Core Financial Management Suites Key Players Head office and Area Served
3.6 Key Players Cloud Core Financial Management Suites Product Solution and Service
3.7 Date of Enter into Cloud Core Financial Management Suites Market
3.8 Mergers and Acquisitions, Expansion Plans
4 Global Cloud Core Financial Management Suites Breakdown Data by Type
4.1 Global Cloud Core Financial Management Suites Historic Revenue by Type (2017-2023)
4.2 Global Cloud Core Financial Management Suites Forecasted Revenue by Type (2023-2029)
5 Global Cloud Core Financial Management Suites Breakdown Data by Application
5.1 Global Cloud Core Financial Management Suites Historic Market Size by Application (2017-2023)
……….to be continued
Browse complete table of contents at - https://www.businessgrowthreports.com/TOC/20226272
About Us:
Business Growth Reports is the Credible Source for Gaining the Market Reports that will provide you with the lead your business needs. Market is changing rapidly with the ongoing expansion of the industry. Advancement in the technology has provided today’s businesses with multifaceted advantages resulting in daily economic shifts. Thus, it is very important for a company to comprehend the patterns of the market movements in order to strategize better. An efficient strategy offers the companies with a head start in planning and an edge over the competitors.
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Press Release Distributed by The Express Wire
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As investors, speculators, hedge funds, and other sections of finance capital try to gauge where the Federal Reserve will next move on interest rates, a study released last month provided some significant data on how the US central bank has created the conditions for a financial crisis.
The report by Better Markets, an organisation devoted to trying to ensure better management of the financial system, focused on what it called “systemic instability.”
It began by noting that while most of the media reports centre on how long and how fast the Fed will raise interest rates, the “focus also needs to be on the role of the Fed’s prior actions in how we got here and in creating the serious risks we are now facing.”
The basic effect of the Fed’s monetary policies over the past 14 years, through which trillions of dollars have been pumped into the financial system, “decoupled asset prices from risk and ignited an historic borrowing and debt binge.” Now the Fed is, in many ways, “fighting problems of its own creation.”
The implication is that there could have been a different outcome if only different policies had been followed. But an examination of the two major crises of the past 14 years—the global financial crisis of 2008 and the market freeze of March 2020 at the start of the pandemic—reveals that a complete meltdown of the global financial system was only prevented by the Fed’s massive monetary interventions.
Those interventions have only created the conditions for another, even deeper crisis. As the report put it, this is because “the US and the world are facing an unprecedented array of multiple, simultaneous, and consequential economic, financial, and geopolitical shocks that are causing stress in financial markets while straining consumers and businesses in the real economy.” In this environment, the “margin for error is vanishingly small.”
The crisis did not start with the pandemic, or the Russian invasion of Ukraine but was rooted in the Fed’s response to the 2008 crash.
When the pandemic triggered a crisis at the beginning of 2020, the Fed doubled down on the quantitative easing policies that had already created a mountain of debt and fictitious capital after 2008.
Comparing the pre-pandemic period to the pre-2008 crash, it said the growth in US debt held by the public was nearly 500 percent larger, the growth in nonfinancial corporate loans and debt securities was around 90 percent larger and the growth in consumer debt, excluding mortgages, was around 30 percent larger.
Overall, after the crash there was a “culture of debt” due to the Fed’s zero interest rate policy and its large-scale asset purchases. This meant that “the increase in debt during the 10-year period prior to the pandemic was significantly larger that during the 10-year period prior to the 2008 crash.”
This debt binge was accelerated after March 2020. The immense pace and scale of the Fed’s action in March 2020 is illustrated by the fact that the Fed “purchased $2.1 trillion of Treasuries [US government Treasury bonds] and MBS [mortgage-backed securities] in just the first 90 days after the pandemic stress, an amount that took nearly four years for the Fed to purchase after the 2008 crash.”
In the two years after the onset of the pandemic, the Fed purchased $4.6 trillion worth of securities, some $800 million more than it did in the 8.5 years after 2008.
The effect of the low-interest rate regime and asset purchases meant that the yield on safe government debt was reduced to zero. Consequently, investors had to place their money in riskier assets to secure the same rate of return.
This process was compounded by the actions of the Fed in removing massive amounts of safe assets from the markets and placing them on its books, leaving investors with cash but fewer safe assets in which to invest. They had “no choice but turn to riskier assets and ‘reach’ for yield much further out on the risk spectrum than they have before.” This was particularly the case for investors holding short-term assets.
They did so in the belief, based on experience, that “the Fed would just bail everything out.” This guarantee was expanded in scale and scope when the Fed intervened in the corporate bond market in March 2020.
This intervention had a broad effect despite the relatively small amount of money the Fed actually laid out in this area. The mere announcement that the Fed was effectively the backstop for the corporate bond market had a second-order effect far beyond the impact of direct purchases.
As a result, “companies with low credit ratings and poor financial performance—and often ever poorer prospects—were able to sell debt that they otherwise would not be able to or to sell more debt than they would otherwise be able to.”
The Fed not only created incentives for unbridled risk taking, it also “effectively rewarded and, indeed, bailed out the most extreme pre-pandemic risk taking however irresponsible or even just poorly run. This included so-called zombie companies with revenues lower than the interest on their then-current debt. The Fed literally kept those zombies and created many more.”
The turn by the Fed to higher interest rates—a policy implemented above all with the aim of suppressing the struggle of the working class for pay rises in response to rampant inflation—has major consequences for the financial system.
The Better Markets report warned that, at the same time as risk on debt securities and loans was being repriced, companies were facing lower demand for their products and the “possible effects could be dramatic.”
Banks are by no means excluded. It has been said many times by Fed and other officials that banks were a “source of strength” during the March 2020 crisis. But that conclusion was “incomplete and misleading at best” because it was only two weeks before the Fed stepped in with trillions of dollars and effectively guaranteed all markets. In other words, had this not taken place the vaunted “strength” of the banks could have been sorely tested.
The report concluded with the observation that as the Fed tightens monetary policy “we move closer and closer to the potentially devastating realisation of some of the risks created or amplified by Fed policies over the past 14 years.”
It pointed out that “although the Fed monitors and seeks to address risks to financial stability and the banking system, it simply failed to see—or didn’t look or consider—itself as a potential source of those risks.”
This is something of a misreading of the situation. No doubt the Fed did not care to look too closely into the future as it bailed out the financial system. However, it was aware, at least to some extent, of the risks contained in its action and made attempts in 2013 and 2018 to try to “normalise” monetary policy.
But on both occasions, it faced a violent reaction from the markets—the so-called “taper tantrum” of 2013 and the major market sell-off of December 2018—which forced it to back off.
The role of the Fed demonstrates not so much lack of oversight and awareness but is rather the expression of a more fundamental issue as underlined in the New Year perspective of the World Socialist Web Site. It explained that the dynamic of the capitalist crisis had passed beyond the capacity of governments and their agencies to contain it and their policies “are of an increasingly reckless and irrational character.”
WASHINGTON (AP) — Despite testing positive twice last year for the coronavirus, President Joe Biden has no long-term symptoms and has been declared “healthy, vigorous” and “fit” to handle his White House responsibilities, according to a routine medical checkup performed Thursday.
The findings were contained in a memo by Biden’s doctor, summarizing the exams conducted during a three-hour stay at the Walter Reed National Military Medical Center in Bethesda, Maryland.
The conclusions reached by Dr. Kevin O’Connor, the president’s personal physician since 2009, are likely to be highly scrutinized as the oldest president in history makes plans for an expected reelection campaign.
O’Connor concluded in a five-page memo that Biden “remains a healthy, vigorous 80-year-old male, who is fit to successfully execute the duties of the Presidency.” But the doctor did not speculate about where Biden’s health might be at age 86, when a second term might end.
The president had a lesion removed from his chest that is undergoing a traditional biopsy. But Thursday’s results largely matched the findings after the president’s last exam in November 2021, which said his coughing was due to acid reflux and his stiffened gait was the result of spinal arthritis, a previously broken foot and neuropathy in his feet.
The memo generally labeled Biden’s health as “stable” compared to his last exam, though it noted that his calves and hamstrings had possibly tightened.
Biden tested positive in July for COVID-19 and experienced “very mild symptoms,” according to the White House. He also had a rebound infection and ultimately tested negative on Aug. 6 of last year. The president continued to work even as he isolated himself in the White House.
“Well, everything really went well,” Biden told NBC News on Thursday about the exam ahead of the memo’s release.
Many people, including Democrats, have expressed reservations about Biden seeking a second term in 2024. Only 37% of Democrats say Biden should pursue reelection, down from 52% before last November’s elections, according to a latest poll from The Associated Press-NORC Center for Public Affairs Research. Overall, 22% of U.S. adults said he ought to run again.
Follow-up interviews with people in the survey indicated that Biden’s age was a major concern. They took note of his coughing, a greater sense of fragility in his walking and moments when he misspoke.
Biden had a colonoscopy in 2021, in which a 3-millimeter “benign-appearing polyp” was identified and removed. He did not undergo a colonoscopy during Thursday’s checkup.
Asked in a latest PBS interview about his age and ability to be president, Biden responded with what has become his stock line: “Watch me. It’s all I can say.”
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Feb 14, 2023 (The Expresswire) -- Local Government Software Market 2023: | 106 Pages Report Worldwide Industry Trends, Size, Development, Opportunity, and Forecast 2023-2029," gives an intensive examination of the market Segments such as Types [Cloud, On-premise] and Application [Federal, State and Local Government Agencies, Nonprofit], Additionally, it covers important aspects of industry like market size, share, trends, and key drivers with SWOT and PESTLE analysis. Local Government Software Market research incorporates research methodologies with futuristic and historic performance, key financial statements, CAGR status and revenue estimations in terms of value and volume.
BrowseLocal Government Software Detailed TOC 2023, Tables and Figures with Charts which is spread across 106 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector. Ask for a trial Report
List of TOP KEY PLAYERS in Local Government Software Market Report are: -
● Civica
● SAP
● Infor
● Tyler Technologies
● IBM
● Constellation Software Inc.
● Microsoft
● Oracle
● SAS Institute
● CGI Group Inc.
Get a trial PDF of the report at - https://www.businessgrowthreports.com/enquiry/request-sample/21333865
Also, the Local Government Software Market sector report gives fair, objective assessment and examination of possibilities in the Local Government Software Market sector with orderly market concentrate on report containing a few other market essential elements. This certified industry investigator assesses the expense, piece of the pie, amazing learning experiences, advances, market measuring, supply chains, applications, trade and import, organizations, etc., with the sole exertion of helping our clients to pursue all around read business choices.
The key part working in this market has been profiled in a way which uncovers key insights concerning the organizations, including the organization outline, items and administrations, late news, mechanical turns of events, developments, income, key financials, and SWOT examination.
Enquire before purchasing this report - https://www.businessgrowthreports.com/enquiry/pre-order-enquiry/21333865
On the basis of product type, the Local Government Software market is primarily split into
● Cloud ● On-premiseOn the basis of end-users/application, this report covers the following segments
● Federal ● State and Local Government Agencies ● NonprofitLocal Government Software Market Research Methodology:
This report contains information from companies, government agencies, and brokers. This information validates the Cardiac Implants market research report and assists clients in making better business decisions. This report also covers market dynamics. Through extensive secondary and/or primary research, highly-skilled professionals have gathered critical and exact insights.
What are the key powerful factors that are definite in the report?
Local Government Software Market Dynamics: The Local Government Software Statistical surveying report subtleties the most latest industry patterns, development examples, and exploration approaches. The variables that straightforwardly add to the development of the market incorporate the creation techniques and procedures, improvement stages, and the item model itself, wherein a little change would bring about additional progressions in the general report. These elements are made sense of exhaustively in the examination study.
Get a trial Copy of the Local Government Software Market Report 2023
Local Government Software Market Viewpoint: The report likewise reveals insight into a portion of the central point, including Research and development, new item dispatches, MandA, arrangements, organizations, joint endeavours, coordinated efforts, and development of the key business members, on a territorial and worldwide premise.
Significant Elements: The Local Government Software Market report gives an exhaustive investigation of a portion of the critical variables, which incorporate expense, limit, limit usage rate, creation, income, creation rate, utilization, import/trade, supply/request, gross, piece of the pie, CAGR, and gross edge. Furthermore, the report gives a complete investigation of the key impacting variables and market tendencies, notwithstanding the significant market fragments and sub-portions.
Scientific Apparatuses: The Local Government Software Market report comprises the definitively considered and assessed data of the central members and their market scope utilizing a few logical devices, including SWOT investigation, Doorman's five powers examination, venture return investigation, and plausibility study. These Tools have been utilized to concentrate on the development of significant industry members proficiently.
Expected Clients: The Local Government Software Market report offers itemized experiences to clients, specialist organizations, providers, makers, investors, and people who are eager on assessing and self-concentrating on this market.
Purchase this report (Price 3450 USD for a single-user license) - https://www.businessgrowthreports.com/purchase/21333865
Detailed TOC of Global Local Government Software Market Report 2023
Table of Content
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Local Government Software Market Size Growth Rate by Type: 2017 VS 2021 VS 2029
1.2.2 Portable Satellite Terminals
1.2.3 Fixed Satellite Terminals
1.2.4 Vehicular Mobile Satellite Terminals
1.3 Market by Application
1.3.1 Global Local Government Software Market Growth Rate by Application: 2017 VS 2021 VS 2029
1.3.2 Military Use
1.3.3 Civil Use
1.4 Study Objectives
1.5 Years Considered
2 Market Perspective
2.1 Global Local Government Software Market Size (2017-2029)
2.2 Local Government Software Market Size across Key Geographies Worldwide: 2017 VS 2021 VS 2029
2.3 Global Local Government Software Market Size by Region (2017-2023)
2.4 Global Local Government Software Market Size Forecast by Region (2023-2029)
2.5 Global Top Local Government Software Countries Ranking by Market Size
3 Local Government Software Competitive by Company
3.1 Global Local Government Software Revenue by Players
3.1.1 Global Local Government Software Revenue by Players (2017-2023)
3.1.2 Global Local Government Software Market Share by Players (2017-2023)
3.2 Global Local Government Software Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Company Covered: Ranking by Local Government Software Revenue
3.4 Global Local Government Software Market Concentration Ratio
3.4.1 Global Local Government Software Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Local Government Software Revenue in 2021
3.5 Global Local Government Software Key Players Head office and Area Served
3.6 Key Players Local Government Software Product Solution and Service
3.7 Date of Enter into Local Government Software Market
3.8 Mergers and Acquisitions, Expansion Plans
4 Global Local Government Software Breakdown Data by Type
4.1 Global Local Government Software Historic Revenue by Type (2017-2023)
4.2 Global Local Government Software Forecasted Revenue by Type (2023-2029)
5 Global Local Government Software Breakdown Data by Application
5.1 Global Local Government Software Historic Market Size by Application (2017-2023)
……….to be continued
Browse complete table of contents at - https://www.businessgrowthreports.com/TOC/21333865
About Us:
Business Growth Reports is the Credible Source for Gaining the Market Reports that will provide you with the lead your business needs. Market is changing rapidly with the ongoing expansion of the industry. Advancement in the technology has provided today’s businesses with multifaceted advantages resulting in daily economic shifts. Thus, it is very important for a company to comprehend the patterns of the market movements in order to strategize better. An efficient strategy offers the companies with a head start in planning and an edge over the competitors.
Contact Us:
Business Growth Reports
Phone:
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Local Government Software Market 2023 Latest Report by Top-Down Approach of Quantitative Method in the Research Industry Worldwide
COMTEX_424504263/2598/2023-02-14T22:14:49
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The auditors.would also focus on the areas having impacts on the presentation of 2023 financial statements (LK) in 2023, including the internal control over the financial reporting, the agency' s member II, Daniel Lumban Tobing, said.
"The areas that are the focus of BPK's audit include internal control over financial reporting in recording financial transactions and the process of preparing financial reports," he said at an entry meeting at the BPK head office as quoted by ANTARA from the agency's official website here Sunday.
Apart from the internal control, the BPK auditors would also focus their.examinations on repeated findings, development of follow-up on recommendations from previous inspections, situations and/or events that indicate frauds, and assessing the impacts on fairness of the LK presentations, as well as tests on revenues, goods expenditures, capital expenditures, and management of State Property (BMN).
The entry meeting marked the commencement of examination of the 2023 financial statements of
the Ministry of National Development Planning, the Ministry of Trade, Ministry of Cooperatives and Small and Medium Enterprises, Ministry of Investment/Investment Coordinating Board (BKPM), Statistics Indonesia (BPS), Center for Financial Transaction Reports and Analysis, Government Goods/Services Procurement Policy Institute, Supervisory Business Competition Commission, and the National Standardization Agency.
"In assessing the internal control system (SPI), one of the elements evaluated is related to the effectiveness of completing follow-up recommendations on audit results. For this reason, it is hoped that each ministry/institution can take strategic steps to follow up on recommendations from the BPK audit results, especially recommendations on audit results from a long audit period," said Tobing.
Another thing that is also emphasized by BPK is the fulfillment of audit data and documents.
According to Tobing, documents and data are important for the BPK auditors who regard them as supporting evidence in obtaining adequate confidence in the presentation of LK, whether there are deviations from accounting policies, internal control weaknesses, or non-compliance with statutory provisions.
"We expect support, commitment, synergy, and effective communication, so that the BPK audit results can provide sufficient confidence in the financial accountability of the ministries/agencies in 2023," he said.
The meeting was attended, among others, by Minister of National Development Planning Suharso Monoarfa, Trade Minister Zulkifli Hasan, Minister of Cooperatives and SMEs Teten Masduki, and Minister of BPKM Bahlil Lahadalia.
Related news: BPK seeks to become UN auditor
Related news: BPK intent on aiding administration improvement
Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Monday said that an enquiry has shown that the exam conducted by HP Staff Selection Commission, results of which are yet to be declared, were also leaked. ''Papers of examinations conducted by Himachal Pradesh Staff Selection Commission, results of which are yet to be declared, were also leaked as per the enquiry report,'' the CM said told reporters.
The forensic examination of electronic devices recovered by the Vigilance department investigating the Junior Office Assistant (Information Technology) paper leak case has indicated that the Himachal Pradesh Staff Selection Commission employees were involved in recruitment scams in the past too, an official had said earlier in the day. The JOA (IT) exam scheduled for December 25 was cancelled after the paper leak was unearthed on December 23, 2023 when the Vigilance department arrested senior assistant of HPSSC Uma Azad with solved question paper and Rs 2.5 lakh in cash. The forensic experts found question papers, financial transactions, voice recordings and chats from the mobile phones, laptops, hard drives and electronic documents recovered from personal gadgets of the people under scanner, which indicates that papers were leaked in the past also, an official told PTI requesting anonymity. Regional forensic laboratory, Dharamshala, the only forensic lab in the state recognised by the Ministry of Electronic and Information Technology has screened 75 per cent of the devices and submitted the report to the investigation agencies probing the case.
So far, eight people Uma Azad, her sons (Nikhil Azad and Nitin Azad), tout Sanjeev and his brother Shashi Pal, and Neeraj, Ajay Sharma, and Tanu Sharma have been arrested in the case.
The state government had suspended the functioning of the HPSSC over the recruitment exam paper leak and postponed all exams scheduled to be held in near future, stating it appears that the commission has not discharged its duties and responsibilities objectively and its credibility has been eroded.
After the scam was unearthed, the Vigilance department received several complaints of irregularities in previous exams conducted by the HPSSC.
The Vigilance department officers have said that enquiries have been initiated to further verify alleged malpractices in 10-20 exams held in the past.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
Dar es Salaam. The government has called for cooperation between scientists in the public and private sectors as a strategy to reduce existing gap between men and women in Science, Technology, Engineering and Mathematics (STEM).Deputy Minister for Education, Science and Technology Omary Kipanga, said the move will strengthen the contribution of scientific research and innovation to the country's economy for the benefit of the present and the future generation.Speaking during the commemoration of the International Day of Women and Girls in Science on Saturday, February 11, 2023, Mr Kipanga said different groups including successful women in STEM have explained the worrying gap of women in science.The thinking have been outlined at a time when the fourth industrial revolution demands for increased experts in science and technology.During a live broadcast event from the capital-Dodoma, Mr Kipanga said despite the government being at the forefront in encouraging increased inclusion of women and girls in the medicine, engineering and mathematics studies, greater cooperation is needed in achieving the goal."In order to strengthen and increase the number of women and girls in science studies, there is a need to reinforce cooperation between stakeholders in the public and private sector, parents and guardians in achieving this important goal," he said.The United Nations Educational, Scientific and Cultural Organization (UNESCO) statistics shows that of all the girls who go to universities, only 24 percent out of 45 STEM subjects.Earlier, Prof Verdiana Masanja, the first woman to get a PhD in mathematics in Tanzania, said the Tanzania Commission for Universities (TCU) 2021 statistics shows that 30 percent of the students took science courses in universities out of whom 11 percent were the women."The world is heading towards the fourth industrial revolution, and we have only been consumers... In order for us to have these professionals, women are needed at all levels from the bottom to the top...," she said during the debate.As a mathematician, she said if the teaching of the subjects continues as it is now, Tanzania will forget manoeuvring in the fourth industrial revolution.She cited the recently announced Form Four results where a whopping 79.92 percent had totally failed the subject. "Of these, women are 85 percent and men 74 percent.""Now with this style, it is impossible for us to move forward in developing our technologies. The government must set a strategy to revive the subject of mathematics in order to enable us to excel,” she emphasized.But, Mr Kipanga insisted that there was already a way out of the situation as he called for more alliances and women in science to take lead in helping upcoming girls as well.He noted that the establishment of the Samia Scholarship Fund was one of those efforts, adding that in the financial year 2023/23, 640 graduates with high performance in the Form Six exams have been funded…"Let me assure you that all these efforts will provide opportunities for girls in achieving their dreams in STEM and Innovation," said Mr Kipanga."I call on parents and the community to keep encouraging and motivating girls to love these subjects, especially as we head to become an industrial economy that will provide more opportunities...," he added.
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