Friday, December 7, 2012

Titbits: Budget 2013: The need for clarifications; Prospects for 2013; Monetary policy: what next ?; The recent NESC Report.

 Budget 2013: The need for clarifications
The summing up of Budget 2013 by the Minister of Finance (MOF) in the National Assembly left many of our queries unanswered, namely, on the size of the budget deficit, the special funds , the lack of overall coherence and the stop gap measures. It could have been an opportunity to discuss the economy, talking it up and be more precise on the measures planned to stem the downslide in growth. We expected strong signals that the policy paralysis that has gripped MOF is over, that important changes were going to be announced to counter some of the criticisms and which would have resulted in swifter policy execution. Instead we just got illusions wrapped in cheap rhetoric.