Friday, 20 August 2021 02:37
A country, like an individual or a household, should live within its means i.e. matching income to expenditure.
Of course, there is a need for borrowing, provided the borrowings are ‘invested’ for future value creation.
With both spending (current income) and investing the borrowed money, some hard choices need to be made.
For example, should we invest in road infrastructure and city beautification or in education and healthcare?
If you build an educated, enlightened and healthy nation, they will develop the country. They will elect capable and honest politicians. They will ensure an efficient civil service, who should actually be leading the country’s development agenda. They will ensure politicians stick to their role as legislators and representatives of the people, not act as subject matter experts.
Otherwise, it will be a ‘forever developing nation’!