2017 budget should focus on building local capacity-PSDA

By Nation Reporter

THE 2017 national budget should focus on building local capacity by not increasing taxes as it will put pressure on the growth of the private entities, says Private Sector Development Association (PSDA chairperson Yusuf Dodia.

Mr Dodia said that building local capacity especially through the private sector was important as it triggered economic growth.

“We expect the budget to look very strongly at how to build local capacity, there is need in the budget about the taxation on fuel and electricity.

“Those are the areas that we feel Government cannot put too much pressure. Otherwise, the private sector is not going to grow,” he said.

Mr Dodia also said PSDA expected the national budget to focus on how Government could stimulate and open up the tourism and agriculture processes because those were the low hanging fruits for the economy.

“We expect that the budget is going to look at how we can stimulate and open up the tourism and agriculture process because those are the low hanging fruits for our economy and if we do not pick on that, it will be an uphill battle,” he said.

He further urged the Government to focus on how both international and domestic debt would be dismantled as it was almost becoming unsustainable.

“The most important thing as far as the national budget is concerned for me is that it needs to tackle debt. As a country, we have a debt that is unsustainable.

“We need to have a budget that will see how we are going to dismantle the debt both international and domestic debt. So these are the three areas that the target needs to be focused on,” he said.

Categorized | Business

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