Budget deficit of 10.8 per cent recorded in 2013 – BoG

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• Alex London 10 years ago

  You cannot continue to spend what you do not have. We must cut our clothes according to our sizes. This is the basic principle of bubdeting and budgetary control. In the private sector they borroww to acquire facilities whic ...
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  You cannot continue to spend what you do not have. We must cut our clothes according to our sizes. This is the basic principle of bubdeting and budgetary control. In the private sector they borroww to acquire facilities which would generate sufficient income to pay off the loan as well as make profit. They only borrow (overdraft) to pay for overheads when they are experiencing late payments from debtor. In all this debate about fisical deficit what is muted on is cost saving measure. There are so much waste. The budget of ministries, statutory agencies and bodies are inflated so they can continue to waste resourses. Costs Saving Task Force should be set up to deal with these bloated budgets and ineficencies.
  
  Let us look at the office spaces the ministries,statutory agencies and bodies occupty. There are so many middle and senior officers with indivual offices. Why do they need individual offices? They are a waist of spaces. All offices should be modlled into an open plan with meeting rooms. These rooms would be booked for staff meetings and more importantly for outside visitors. The measures would free up sufficient space to accommodate two ministries in one block. The surplus space to could be rented out to generate income.

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