An economist just torched the budget proposal as the worst financial plan the country has ever seen, and Professor Gift Mugano is not holding back. He says the whole thing is designed to drain money out of the economy rather than help it grow, with new taxes on cash withdrawals that will just make people avoid banks entirely. The VAT hike to 15.5% and the 2% intermediary tax are going to spike inflation, while workers end up handing almost half their paychecks to the government.
The really wild part is about $1.7 billion in unverified payments that nobody can account for, with domestic debt somehow jumping $900 million in three months. Mugano is demanding answers about $700 million supposedly spent on dams when the country has no new massive dam projects to show for it, and people online are connecting this to other suspicious spending patterns.
The public response has been brutal, with citizens calling it a blueprint for poverty. Mugano wants Parliament and business groups to seriously review this mess before it gets passed, warning that the proposed repayment timeline stretching to 2030 is basically a death sentence for creditors.
The really wild part is about $1.7 billion in unverified payments that nobody can account for, with domestic debt somehow jumping $900 million in three months. Mugano is demanding answers about $700 million supposedly spent on dams when the country has no new massive dam projects to show for it, and people online are connecting this to other suspicious spending patterns.
The public response has been brutal, with citizens calling it a blueprint for poverty. Mugano wants Parliament and business groups to seriously review this mess before it gets passed, warning that the proposed repayment timeline stretching to 2030 is basically a death sentence for creditors.
