EAC finance ministers table 2024/25 budgets
Participating in a pre-budget examination with CNBC Africa is Erick Mokaya, the Creator of Mwango Capital, and Julius Mukunda, the Director of the Civil Society Budget Advocacy Group.
Wed, 12 Jun 2024 10:24:30 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Debt financing remains a significant concern for East African countries as they strive to reduce reliance on borrowing and enhance revenue generation.
- Revenue mobilization efforts are being intensified through various tax measures, raising concerns about the impact on businesses and ordinary citizens.
- Expenditure management and absorption capacity are critical factors in ensuring effective utilization of funds and avoiding financial strain in the future.
East African countries are preparing to unveil their 2024/25 budgets, with a focus on addressing financial challenges and ensuring sustainable economic growth. The upcoming budgets for countries like Kenya, Uganda, Tanzania, and Rwanda are expected to be tabled and read in Parliament on the 14th of June 2024. To gain a deeper understanding of the budget estimates and the key issues at play, CNBC Africa engaged in a pre-budget analysis with prominent analysts Erick Mokaya, Founder of Mwango Capital, and Julius Mukunda, Executive Director of the Civil Society Budget Advocacy Group. The discussion shed light on key concerns such as debt financing, revenue targets, and expenditure management. As the region navigates through economic uncertainties, the finance ministers face a challenging task of striking a balance between fiscal responsibility and meeting the pressing needs of the citizens.
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