Originally posted in The Daily Sun on 2 June 2025
Restoring discipline in the economic sector is the principal challenge. Alongside re-establishing discipline and stability, there is a dual burden of ensuring investment and employment. This is a demanding situation. Structure is more important than size.
A major issue is how the government is reducing expenditure and where it is prioritising spending. It is not just about how much the government spends, but how and where the money is allocated. Strategic prioritisation of expenditure is essential to ensure that limited resources are directed towards the most impactful sectors.
Equally important is the establishment of good governance in public finance. This involves ensuring value for money in every aspect of public spending, as well as implementing robust measures to curb favouritism and inefficiencies. Without transparency and accountability, even well-intentioned policies may fail to deliver results.
The government, therefore, faces a dual challenge: to manage budgetary discipline while simultaneously fostering inclusive economic development. Achieving this balance will determine the credibility and effectiveness of the overall fiscal framework.
