Re: Official foreign reserve

With disgust I have read the reserve account of Tanzania amounting to $ 3.6 billion after 50 years of independence whereas two countries which had our status in 1960`s namely Singapore and Malaysia have surpassed us such that we must be running to catch them.

The former has the reserve of $ 246.1 billion whereas the later has the reserve of $ 135.9 billion both figures were of as at 30th April 2012..

My colleagues lets discuss heartily what could be done to rectify this situation..my heart is pounding heavily when you are told that just the renovation of Prof Beno Ndulu house has siphoned tax payers` money amounting to Tsh 3 billion whereas our reserve account stands at $ 3.6 billion which equates to the income of North Mara Nyamongo Gold Mine..

It hurts... and it pains....

Karikenye said:

With disgust I have read the reserve account of Tanzania amounting to $ 3.6 billion after 50 years of independence whereas two countries which had our status in 1960`s namely Singapore and Malaysia have surpassed us such that we must be running to catch them.

The former has the reserve of $ 246.1 billion whereas the later has the reserve of $ 135.9 billion both figures were of as at 30th April 2012..

My colleagues lets discuss heartily what could be done to rectify this situation..my heart is pounding heavily when you are told that just the renovation of Prof Beno Ndulu house has siphoned tax payers` money amounting to Tsh 3 billion whereas our reserve account stands at $ 3.6 billion which equates to the income of North Mara Nyamongo Gold Mine..

It hurts... and it pains....

Click to expand...

What we have is what our economy can generate as surplus. Do we need to abolish higher learning insitutions loans to maintain high saving or do need not to employ enough teachers for the sake of high saving?

duk kazi ipo

Ndachuwa said:

What we have is what our economy can generate as surplus. Do we need to abolish higher learning insitutions loans to maintain high saving or do need not to employ enough teachers for the sake of high saving?

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Both are potentials in any economy, to educate your citizen in a college level as well as employing our teachers. The issues here is how we can raise our foreign reserves despite all hardship which many countries like Malaysia had overcome.

Ndachuwa said:

What we have is what our economy can generate as surplus. Do we need to abolish higher learning insitutions loans to maintain high saving or do need not to employ enough teachers for the sake of high saving?

Click to expand...

Your post seems not to itererate well in my mind. Do you mean that Singapore and Malaysia neither pay for higher education nor employing teachers? There is a point to discuss why are we such low when compared with nations that economies similar to ours fifty years ago. It is true those nations with such high reserve has also done a lot more in ally sectors your refering compared to our Kayumbas

Karikenye said:

With disgust I have read the reserve account of Tanzania amounting to $ 3.6 billion after 50 years of independence whereas two countries which had our status in 1960`s namely Singapore and Malaysia have surpassed us such that we must be running to catch them.

The former has the reserve of $ 246.1 billion whereas the later has the reserve of $ 135.9 billion both figures were of as at 30th April 2012..

My colleagues lets discuss heartily what could be done to rectify this situation..my heart is pounding heavily when you are told that just the renovation of Prof Beno Ndulu house has siphoned tax payers` money amounting to Tsh 3 billion whereas our reserve account stands at $ 3.6 billion which equates to the income of North Mara Nyamongo Gold Mine..

It hurts... and it pains....

Click to expand...

There is a slogan used by many people 'Your tomorrow is determined by today'. These are fruits from what we planted after independence. It is good idea to compare Singapore and Tanzania in terms of their economic levels in earlier 1960s and their current bank reserves. However, it would be better if you compare them even in terms of their political situations and economic policies laid down by these countries during early 1960. I hope that will be your answer for current differences and probably you might even learn some ideas that rushed Singapore to higher level of economics and pulled back our Tanzania.
The main problem is priority and persistence on our objectives, more politics than works, high selfishness for our leaders. Just imagine with last 15 years, how political slogans have you about poverty reduction or even eradication? MKUKUTA, TASAF, KILIMO KWANZA, MEM, MES, MKURABITA, and others. What are they doing? . Essentially, our leaders are lacking moral responsibility.

Losambo said:

Both are potentials in any economy, to educate your citizen in a college level as well as employing our teachers. The issues here is how we can raise our foreign reserves despite all hardship which many countries like Malaysia had overcome.

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Income = Consumption + Savings

Savings = Investment

Investment = Road infrastructure, education, hobour expansion, hospital infrastructure etc.

Losambo said:

Both are potentials in any economy, to educate your citizen in a college level as well as employing our teachers. The issues here is how we can raise our foreign reserves despite all hardship which many countries like Malaysia had overcome.

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This time is so challenging one. It was easier to develop ourselves immediately after independence than today. Do you understand the meaning of globalization?

Ndachuwa said:

What we have is what our economy can generate as surplus. Do we need to abolish higher learning insitutions loans to maintain high saving or do need not to employ enough teachers for the sake of high saving?

Click to expand...

Fikiria jinsi ya ku generate money siyo kufuta matumizi

Nono said:

Your post seems not to itererate well in my mind. Do you mean that Singapore and Malaysia neither pay for higher education nor employing teachers? There is a point to discuss why are we such low when compared with nations that economies similar to ours fifty years ago. It is true those nations with such high reserve has also done a lot more in ally sectors your refering compared to our Kayumbas

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The government get income from private sector, so in order to reap high income the government has to create an enabling infrastructure that will support growth of private that is when the government can have surplus income (reserve)

The system is reaping more that the country itself...we should abort the old system where a person can stay in the public office more than 30 Yrs, most of public institutions are now privately owned by the system..what i mean is a public office or an organisation is owned by few who have been there 4 years!!!

Ndachuwa said:

What we have is what our economy can generate as surplus. Do we need to abolish higher learning insitutions loans to maintain high saving or do need not to employ enough teachers for the sake of high saving?

Click to expand...

On the red: I refuse to buy your theory. Our economy is capable of generating 3 times (if not more) of what we are generating now if only those entrusted to run the economy are doing their job properly. We conviniently twisted our principles and turn our priorities upside down. Our education system is heading down, our industrial base non-existant,
our agriculture sector is not any better. And top it up, we have handed over the mining sector to the rich boys!

No serious economist would spend as our leaders do and claim our economy is small expecting people to buy that lie! Those at the top of the ladder are living such a lavish livestyle only matched by the late Michael Jackson! It is insane to amase cars worth Tshs 5 trillion when a third of your population are going to bed hungry!

It is about time that we have an intellectual debate about the state of our economy not least our priorities to get us out of this mess.

FJM said:

On the red: I refuse to buy your theory. Our economy is capable of generating 3 times (if not more) of what we are generating now if only those entrusted to run the economy are doing their job properly. We conviniently twisted our principles and turn our priorities upside down. Our education system is heading down, our industrial base non-existant,
our agriculture sector is not any better. And top it up, we have handed over the mining sector to the rich boys!

No serious economist would spend as our leaders do and claim our economy is small expecting people to buy that lie! Those at the top of the ladder are living such a lavish livestyle only matched by the late Michael Jackson! It is insane to amase cars worth Tshs 5 trillion when a third of your population are going to bed hungry!

It is about time that we have an intellectual debate about the state of our economy not least our priorities to get us out of this mess.

Click to expand...

To triple our current income we have to abolish all incentives (TIC) granted to investors, FJM do you think Tanzania will be in a position to do so? I think we are bound to implement our agreements with foreign investors even if another political party form a new government. Being member of WTO we have to

Ndachuwa said:

To triple our current income we have to abolish all incentives (TIC) granted to investors, FJM do you think Tanzania will be in a position to do so? I think we are bound to implement our agreements with foreign investors even if another political party form a new government. Being member of WTO we have to

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The latest gospel coming from TIC if you read newspapers this week says they (TIC) do not have current record about investments. That means they do not know for sure if those people/companies that got TIC certifacate and subsequntly got tax-examption may not neccessirly qualify!

Forget about WTO, TIC must also go through CAG or a parliamentry watch and really establish who deserves what!

Tutalumbana kwa hoja humu mpaka tutachoka, tatizo la Tz kwa sasa ni mfumo uliopo. Sasa kwa kiongozi kichwa nazi tulionae, mambo ndio yanavulugika kabisa.

Rushwa inamaliza nchi na ufisadi nchi hii ikiweza kuondoa Rushwa na ufisadi basi tz itakuwa mbali kwani ni kati ya nchi zilizojaaliwa kila kitu na MMungu