The numerous elections taking place in Africa this year must make the authorities « vigilantes » on their expenses, warns, in an interview with AFP, Catherine Pattillo, deputy director of the Africa department of the International Monetary Fund (IMF), especially as the continent is struggling to get out of the financial rut.
Read also | Ivory Coast: the IMF validates a new tranche of financing of more than 500 million euros
“In low-income countries, spending may be unbalanced during election years to build popular support”says Mme Pattillo on the occasion of the presentation of an IMF report devoted to sub-Saharan Africa. Gold “once the election is over, it may be necessary to make cuts, including in the public sector, which nevertheless provides growth”she continues.
From South Africa to Algeria, via Mozambique, Ghana and Mauritania, nearly 20 ballots are being held this year on the continent, recalled the institution, Friday April 19, on the occasion of the spring meetings of the IMF and the World Bank in Washington. Some elections have already taken place, such as in Senegal, where they were disrupted by unrest. “The delay in the Senegalese election has added uncertainty to the region”it is written in the IMF report.
Growth of 3.8%
“More generally, we observe that political instability around elections not only leads to macroeconomic costs, but triggers budgetary adjustments to the detriment of public investment”, also analyzes this regional report, which highlights the risks of sudden changes in public policies induced by the elections. Mme Pattillo calls on authorities to “be vigilant in the face of certain pressures and stay the course on the reform program”.
Read also | IMF grants Kenya $941 million loan
The IMF says it is all the more alert on the issue as the current period “is critical for fiscal adjustment, due to high levels of debt and the need to raise capital in order to finance development spending”, according to the deputy director. Growth in sub-Saharan Africa is expected to reach 3.8% this year, “which is a pace much lower than what we experienced before the pandemic”she notes, describing the economic recovery as “lukewarm and expensive”.
“Financing is very difficult and expensive, and many States are facing significant debt repayment deadlines”, she says. Faced with rising interest rates over the past two years by central banks across the planet, African states are having to pay more to finance their loans. Development aid to Africa also increased by 2% last year, according to statistics from the Organization for Economic Co-operation and Development (OECD) published in mid-April, but it had slowed down by 11% one year. previously.
“”
The IMF calls on African countries to be “vigilant” before the numerous elections
They will employ a senior and receive PLN 50,000. zloty. Important changes are coming. Poles ready?
#employ #senior #receive #PLN #zloty #Important #coming #Poles #ready
There is no shortage of seniors willing to work – according to the SeniorApp report (a mobile application for elderly people in need), within a year the number of people 60+ interested in additional work increased by 27%.
They are motivated to continue their work primarily by their financial situation, but also by legal changes.
The rest of the article is below the video
See also: Poland pays the price for handing out money. “The Czechs understood and have a miracle”
Professional activity until the age of 75?
The report indicates that in countries such as Iceland, Japan, New Zealand, Sweden, Estonia, the Netherlands, Germany, the Czech Republic, Denmark and Switzerland, the professional activity of people aged 55-64 exceeds 74%. (OECD data for the second and third quarter of 2023).
In Poland this indicator is 58.4 percent, which puts us further behind not only Iceland (82.8%), but also the EU average (64.2%).
“Our country is also ahead of, among others, Norway (73.4%), Portugal (67.7%), Slovakia (67.3%), Great Britain (65.3%), USA (64, 5 percent) or Chile (61.1 percent),” says the Progres Group, a permanent and temporary employment agency, in a press release.
However, the situation in Poland may improve thanks to planned changes to the Act on employment promotion and labor market institutions. The new regulations are intended to support the employment of people over 60 (women) and 65 (men), including retirees.
Companies that will employ a senior on a 3-year employment contract for two years they will receive monthly funding of approximately PLN 2,150 (approx. PLN 51,600 in total).
Until now, older people often had little chance of getting a full-time job after the age of 60. Worse still, they weren’t even invited to job interviews. Companies thought of them only as retirees, not as candidates worth hiring into the team. Fortunately, this is starting to change, because every fifth company wants to employ older staff – says Cezary Maciołek, president of the Progres Group.
He adds that the proposed subsidy for employing Silvers is good news not only for companies, but also for those who, despite having acquired the right to benefits paid by ZUS, still want to work.
– Given their knowledge and experience, they will certainly be competitive and may have an advantage over younger people, because there is a shortage of candidates with competences on the labor market – says Maciołek.
Work is often a necessity, not a choice
In 2022, over 1.4 million people aged 60-89 worked in Poland (BAEL data). The professional activity rate of 60-89-year-olds was 15.7%, and the employment rate was 15.5%.
The majority of professionally active seniors were men (67.1%). At the same time, there were as many as 5.5 million economically inactive people aged 60-74. The main reasons for inactivity are retirement and illness or disability.
The amendment to the Act on Social Assistance introduced neighborhood services as a new form of care services. Running an unregistered business is also becoming more and more popular, which allows you to earn up to 75%. minimum wage without settling accounts with the tax office and paying ZUS contributions. For seniors, it is often a way to improve their home budget.
From March 2024, the minimum pension is PLN 1,780.96 gross, and the average benefit is PLN 3,482.63 gross (March 2023). The largest percentage of pensions (13.8%) are amounts between PLN 2,200.01 and PLN 2,600. Over 7 thousand receives PLN 258.8 thousand. people, and over 10 thousand PLN – 36.9 thousand – the authors of the report enumerate.
However, the SeniorApp study shows that for many seniors, the pension is not enough for them to live a decent life. 21 percent needs financial support, for 51 percent the problem is the prices of medical services, and for 43 percent drug prices are too high. Every third senior estimates that their financial situation has deteriorated in the last year, and only 14% have noticed an improvement.
– Material issues are certainly one of the key reasons why seniors decide to take up employment. Another is simply the desire to work, contact with people and feel needed, notes Cezary Maciołek.
He emphasizes that a few years ago, temporary workers over 60 years of age reported to the Progres Group mainly on issues related to retirement.
– Nowadays, instead of staying at home, they often ask about the possibility of continuing work. Moreover, the number of people from the 60+ group taking part in recruitment is growing – he argues.
However, he adds that employment is not possible in every industry and not every position, because in many cases very good health is required, or physical strength, but the current labor market gives older people many opportunities to earn money. – The border of transition to it is moving, and although it is not formalized, for a large part of people, 75 years of age is the new 65 years – says Maciołek.
Which industries are most open to seniors?
Many years of experience of specialists such as doctors, lawyers, teachers and financiers have been valued for years, regardless of their age.
Openness to employing older workers is also visible in trade, logistics, nursing, drivers and production. Data from the Progres Group indicate that these are the sectors that temporarily employ the most people aged 50+ and 60+.
In turn, Central Statistical Office statistics for 2021 show that the largest percentage of employees over 50 years of age was in the following industries:
- energy production and supply (47.6% of total employees),
- agriculture (45.9%),
- real estate market services (43.8%),
- health care and social assistance (40.3%).
The least, less than 10 percent, in the information and communication sector. In other industries, this percentage ranged between 20 percent. and 40 percent
Rate the quality of our article:
Your feedback helps us create better content.
They will employ a senior and receive PLN 50,000. zloty. Important changes are coming. Poles ready?
Upper West Luxury Property in Berlin: Sale, Value, and Return on Investment
2024-04-18 03:00:00
The Upper West, which belonged to the US real estate investor RFR Holding, was sold to Signa Prime in November 2017. It was one of five luxury properties that Signa bought for a total of 1.5 billion euros. Now the Upper West is for sale again. The brokers Jones Lang LaSall (ALL) and the real estate subsidiary of the bank BNP Paribas were commissioned with the marketing.
Four percent return
“The Upper West is a great prime mixed-use property. It was valued at the end of 2022 at a range of around 660 to 700 million euros and it is now expected that the sale will bring in around 450 million euros,” a Signa insider tells KURIER. The latter assessment would mean a rental return of four percent with total rental income of almost 18 million euros. The Upper West is being sold now because leading lenders generally want to have a stable owner. Or to put it another way: The Upper West project company should be stabilized and thus protected from possible insolvency. According to Creditreform, the property is indebted to around 300 million euros. According to a German real estate newspaper, an insurance company is said to have granted a loan of this amount and this is likely to be secured by the property.
18 million euros rent
According to Creditreform, Upper West Immobilien GmbH & Co. KG achieved sales of 18.93 million euros in the 2021 financial year – new balance sheets are not available in the German commercial register – and posted an annual profit of almost 268,000 euros. The assets are valued at 301.88 million euros, of which 181.85 million euros relate to land and buildings and 103.38 million euros to receivables from affiliated companies.
It wouldn’t be Benko’s Signa if the Upper West wasn’t also parked in an elaborate corporate structure. The property is owned by Upper West Immobilien GmbH & Co. KG, but there are also seven Luxembourg companies as well as Upper West Beteiligungs Holding in Vienna, which belongs to Signa Prime Selection. Some of these Luxembourg companies may have served to finance real estate.
Due to this tax structure regarding companies in Luxembourg, the buyer saves both real estate transfer tax and trade tax in Germany in a share deal (sale of company shares). Less any liens, the proceeds from the sale will go to Signa Prime’s creditors.
1713410555
#Signa #highrise #top #location #bargain
Related posts:
Upper West Luxury Property in Berlin: Sale, Value, and Return on Investment