On the 14th of June 2018, Uganda's finance
minister read the budget for the financial year 2018/19 and so did
his counterparts of the other East African states. Being part of
several post-budget engagements I listened in while the experts
discussed away. I pride myself of being a disciplined tax
accountant who does not cross lanes. I have always left economics
for the economists.
However in the eyes of the majority, an accountant should also
have answers to questions directed to economists. I got several
calls seeking my comments on the 2018/19 budget especially the
debt, so I have seized the opportunity to provide an
economist's opinion. To simplify our discussion let us define
some concepts.
