Last Monday was Budget Day 2024 – the day that everyone was looking forward to for an assessment of the performance of the country’s economy in 2023 and its state of affairs at the end of that year. It was also the day when the budgetary proposals for 2024 were unfolded so that citizens can ascertain how these proposals will affect their daily lives, the welfare and wellbeing of the communities in which they live, and the country as a whole. More specifically, citizens are eager to learn of the proposed measures that will help to cushion the effects of the unprecedent rise in the cost of living since COVID-19, including tax relief, adjustments to wages/salaries in the case of public sector employees, and the national minimum wage. The business community also looks forward to the various forms of incentives to help them develop and grow, and to contribute to the growth of the economy.
As our elected representatives meet to consider the Estimates, it is again our hope that there will be serious reflection on the results of the various studies vis-à-vis the extent of our own contribution to assist in the mitigation of the effects of climate change. This is apart from our country being the first to issue carbon credits for its vast forest resources which, it must be noted, are a gift of nature. On the other hand, a significant portion of the Estimates is expected to be funded from revenues derived from the extraction of fossil fuels that is the main contributor of climate change.