The “Rajoelina” government: the year 2010”s finance law to be adopted by December 16th

The present government, still that of the outgoing Prime minister Monja Roindefo, keeps on working the year 2010’s budget development out. “Tempus fugit, the economic framework is already completed”, justified the Treasury secretary. “Legislative chambers as the Transition’s Superior Council  and the Transition’s Convention are, normally, supposed to be in action”, he added. Could they be put in place, and pass the finance law, so better! Otherwise, we will have to do what proves necessary, and get away with an order “.  

Minister Hery Rajaonarimampianina denied any political manipulation in the vote of this budget. “I never said that it is the only way to pass the finance law”, jhe argued. Less than a month to the end of the year, he merely outlined the emergency of the budget plan’s completion. “For the present situation, the schedule is the main issue”, said the Treasury secretary. Could deadlines failed to be respected, “we will neither be able to have returns nor be entitled to make expenditures in 2010”.  

The government without Prime minister plans to complete the state budget at ministry level by the 10th or the13th of December, 2009. The finance law will presumably be passed in Cabinet meeting by December 16th. A couple of weeks will, from then on, be left for the administration to unveil various arrangements of the law, particularly concerning communes and state returns. 

“The expenses must go down. We are in for an austerity policy; elections have to be forecasted, and so has the economic restart”, summarized the state’s chancellor of the Checker in his presentation of the year 2010’s budget pattern. The state is forecasting an overall budget of 3479 billions of ariary. The forecasts of running expenses are valued up to 2077 billions of ariary. The two main budgetary bulks are staff wages for 950 billions of ariary, and runnning expenditures for 802 billions of ariary.  

The 1275 billions of ariary of foreign backing denied all over 2009 are being expected in 2010. The virtual jackpot is made of Ar 298 billions for direct budget help, Ar 549 billions of subsidies, and loans of Ar 426 billions.  This year 2010’s growth rate would put a better face, but the expected 2.3% rate is light years below the 7.5%  recorded in 2008 before the crisis. 2009 bore a 0.6 to 0.9% positive growth, which is, in itself, a genuine modern times’ relief miracle. In spite of this catastrophic economic balance sheet, Andry Rajoelina’s transitional government still finds the way to get satisfaction out of merely keeping the inflation steady at 9.3%.