Economic headwinds underline rugged 2015
Friday, December 18, 2015
Boseto Mine closed in January leaving 800 workers jobless
The turmoil in the diamond market has hit government revenues hard in the past two years, a frailty that filtered down to the private sector and the general households.
Exacerbating the situation in 2015 was the recurring water and electricity shortages that not only slowed economic activity, but also affected the quality of life for the households.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...