Renowned Economist Professor Oliver Saasa has urged the PF Government to ensure there is prudent use of resources and operate within what has been approved by parliament. Speaking to Qfm News, Professor Saasa said that there is a problem of unplanned expenditure by government on activities that will not benefit the country. He explained that it is worrying to see cooperating partners raise concern on the significant deficit during the month of June. Professor Saasa said there is need for government to take a step further and listen to advice before going ahead with unbudgeted for activities that have continued to be a drain. Professor Saasa added that government has continued to go beyond the budget since January 2013 a move which pauses a danger to the fiscal policy of the country. Professor Saasa pointed out that the all recent activities such as by-elections and the continued appointment of deputy ministers should be avoided if government coffers are to be stable. According to the Ministry of finance treasury brief for June the Government raised K1.6 Billion tax, non-tax, and grant revenue in June 2013, while expenditure totalled K2.5 Billion. The difference between revenue and expenditure was bridged by K545 Million domestic borrowing, through Government bonds and Treasury bills, and K354.2 Million from bond proceeds.
Posted on: Mon, 29 Jul 2013 12:06:24 +0000
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