When properly counted, natural resources are much more important in Myanmar than in its neighbors. If reasonable taxes were imposed on natural resources, there would be adequate funds to finance enhanced efficient infrastructure investment and spending on health and education. In that sense, the surge of optimism over the resumption of aid is misplaced. The major development problem is getting agreement on the political economy of growth, efficiently executing it and fairly taxing the abundant natural resources. It is not a lack of adequate national sources for investment. Only if aid enhances the efficiency and stability of the governing system will it promote broad and rapid development. Getting a comprehensive public finance system with all revenues and spending in the budget – with adequate revenues and well-directed spending – would transform the future.
Posted on: Sun, 08 Sep 2013 22:27:42 +0000
Trending Topics
Recently Viewed Topics
© 2015