Thursday, June 02, 2005

June 8

This year’s budget speech will be keenly watched when the Minister for Finance delivers it before a sleepy parliament next week. Unlike with past speeches where declarations made are subsequently forgotten, so much has been pegged on this years speech: Teachers, doctors & nurses, police and civil servants are all waiting for massive pay increments, while donors are looking for a reduced government wage bill through cuts to the civil service combined with concrete plans and timetables for restructuring and privatization of money-losing parastatals. Also, motor dealers and other business people are looking for tax cuts while it remains to be seen if all the East African countries will harmonize their tax structures (budget speeches in Tanzania and Uganda are also read on the same day).

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