Mzee Mwanakijiji
Platinum Member
- Mar 10, 2006
- 33,474
- 39,987
Only 33 per cent of our total Government development expenditure in the past ten years has come from Outside in the form of loans or grants. This shows the degree to which we are relying first on our own resources and only looking outside when it is absolutely necessary, and when we are sure that we shall be able to repay on the due date. In fact, our 'self-reliance' in this respect has increased since the Arusha Declaration. In the last four financial years, an average of nearly 74 percent of our total development expenditure has come from internal resources, as against an average 56 percent over the previous six years. ..
It is possible, however, that in the future we may be able to allow ourselves to borrow from abroad a higher proportion of the money we spend on development. This is, of rouse, assuming that we can raise loans on acceptable terms and without political strings attached to them - condition which we will always insist upon in the futures, as in the past. But if we are able to do this, our development program will be able to proceed faster than otherwise, for finance is now a limiting factor for us- Nyerere in Ten Years after Independence.
My take:
so what is the problem?