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"id": 965741,
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"type": "speech",
"speaker_name": "Nambale, ANC",
"speaker_title": "Hon. Sakwa Bunyasi",
"speaker": {
"id": 2511,
"legal_name": "John Sakwa Bunyasi",
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"content": "One reason I am unable to get a proper matrix, and I do not think I will get a proper one soon, is that many people do not have a clear idea of what is in those pillars. They have not thought through enough to extract from it the critical investments. So, things are coming out as if it is incremental, that is, bit by bit. I think that was the disappointing part of this process. Hopefully, they will crack that as we move forward. The second big area I would like to comment on is the issue of realism. How real are the estimates? There are several parts of the estimates. One part of the estimates, where we must begin, is the revenue. It is a perennial story that they are unable to get a good handle of the expected revenue. If you do a statistical analysis, you will find certain stable numbers emerging. Those are the numbers we expect to surely collect, but are much less than the revised and again- revised projections. You can see there is an element of optimism which is not funded. Still, within the area of realism, nations depend on taxes paid by citizens. It means you must be able to work around… You cannot leave debt to be a consequence. You cannot simply say that this is what you want to do and so you have your wish-list of projects. You exaggerate your revenue knowing you will not get it. The consequential debt is even higher than those projections were. It is important to understand the debt and work around it at the beginning. Let it be the determinant of the size of budget; the debt you can manage should be the determinant on the size of budget."
}