PAC laments lack of debt management policy
Thursday, April 17, 2014
For th resulted in debt management being viewed as a simple operation, which did not require high level planning, thhe past four decades, the country has been enjoying comfortable budget surpluses and low levels of debt, whice report states.
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...