Wednesday, February 11, 2009

SA Budget: Notes from EA

SA's Minister of finance Trevor Manuel earlier today read SA's 2009 Budget Speech perhaps Africa's first for the calender year 2009 which has seen the financial markets continue the downturn after a year-end 'festivities' break.

A few surprises came my way. To begin with, it was a totally SA affair, no mention whatsoever of SADC. In this part of the continent, the national budgets are now read concurrently and feature EA region integration issues to a fair extent, hence my surprise. I guess with a globally integrated economy like SA's, the regional platform can be somewhat overlooked.

With the recent fire disasters in Kenya, I was pleased to note that Trevor availed additional funds for not only water and youth programs but for fire programs as well. I bet Uhuru's (Kenya's Finance Minister) budget speech will cater for the disaster preparedness program- but look out for a scandal involving the funds in a years time.

Education spending also happens to be SA's single largest investment. The minister read a tip received form a contributor who reckoned that funds availed to Public libraries in previous budgets are going a long way in aiding community development. - After seeing the one on Mandela Square, I have always thought that a public library would be the best 'white elephant' project our dear prezzo can get into given that he has reneged on many of his 2003 inauguration pledges why not the one on naming buildings after him? I see it already "M. wa K. Presidential Library" ...Not only would it enhance his education commitment, it would actually do some good.

I remembered Lucky Dube's hit track when Mr Manuel noted that in efforts to deter crime, funding has been provided for the construction of new prisons amongst other things. Now that's another issue altogether in Kenya; our congested prisons are none other than the Prezzo's own undoing! Why? The CEO happens not to have performed his constitutional duty of signing off some documents to decongest our prisons. The Economist recently listed the countries with the largest number of death row inmates. Kenya featured in the top 3!!!

The shift to digital broadcasts and the need for set-top boxes is causing holes in Treasuries world over and Trevors wasn't an exception. I can only hope that this will not be a goldmine for our MPs when our time comes.

I loved the part about different tax thresholds for senior citizens. Surely we too should give our senior citizens some reprieve.

An increase in international air passenger departure tax means that we'll have to dig a little deeper for the World cup in 2010 unless a drive or sea travel sounds exciting. That certainly didn't go down well with me.

The Tips for Trevor campaign sounds great. I have no idea how easy it is to contribute to the Budget proposals.

SA's 2009 budget certainly gives a number of pointers for our EA Ministers. I hope they're paying some attention.



Afrigator


Kenyan Blogs Webring Member

No comments:

Post a Comment