Friday, November 24, 2017

Proposed economic rescue plan *


IN my last article published in the Express of October 10, 2017 titled “Missed opportunities” I promised to outline a plan that should be pursued by the Government and the country in order to address the crumbling economy.

The convergence of events such as the rapidly depleting foreign reserves, the substantial budget deficit, the overvalued currency, the reliance on borrowings to support subsidies, the declining energy sector, the high Government debt and the growing unemployment coupled with the lack of a plan to manage the economy create fertile grounds for a perfect storm.

We are in unusual times and Government must take responsibility for the direction of the economy and lead by example. Most important is the creation of sustainable jobs.

 

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