Hard times East Africans as governments raise budgets
EAC Budget Day (L-R): Finance ministers Njuguna Ndung'u of Kenya, Tanzania's Mwigulu Nchemba, Matia Kasaija of Uganda and Uzziel Ndagijimana, Rwanda, display budget briefcase on June 15, 2023 ahead of presenting them in their respective parliaments. PHOTOS | NMG | RWANDA FINANCE
East African governments this week presented their most expensive budgets yet, seeking to reinvigorate their economies, finance expanded government operations and repay ballooning debts.
Economists are warning the region’s citizens to brace for harder times as the fiscal measures proposed in the 2023/24 budgets are wont to further raise the cost of living, cause investor flight in some countries, and result in job losses.
