GOVERNMENT spending continues to sky-rocket, it____s been disclosed.
A close source within the Ministry of Finance and Treasury (MoFT) revealed to this paper, Thursday.
“Government’s expenditure continues to soar beyond the revenues collected, thus suffocating government coffers.”
The officer who wants to remain anonymous said revenue collected for this first half of the year is higher than the amount collected in the same period last year.
However he claimed government’s cash flow was affected due to the high expenditure, which outweighs the current trend of revenues generated.
He explained the issue that needed immediate respond now was to tighten up control measures to stop the leakages that continue to drain out funds.
He said the ministry had realised that and have recently issued warnings to all line ministries to control payments sent to MoFT.
He added that the cash flow was slowly picking up, but due to very high demand from government expenditure, it continued to put the country in this low cash trend.
“Thus, the ministry has tighten its monitoring system to control the situation.”
By AATAI JOHN
