The economic crisis is deepening…
We are experiencing today the worst-ever public finance crisis in the history of the country.
National debt has skyrocketed as a consequence of grossly undisciplined public finance policies of the Government. The mega projects of 2005-2015 era, financed through short-term high-interest rate commercial debt, with no economic returns at all or no revenue generation capacity for debt servicing, are at the core of the problem, as I have been continually pointing out.
The mega deals that were invariably involved with those mega projects, where the manipulation of cost estimates by simply multiplying the actual figure by several times had been made to appear the norm rather than the exception, remain largely responsible for the current debt-crisis—apart from being robberies of unprecedented scale amounting to crimes against the nation.
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We are experiencing today the worst-ever public finance crisis in the history of the country.
National debt has skyrocketed as a consequence of grossly undisciplined public finance policies of the Government. The mega projects of 2005-2015 era, financed through short-term high-interest rate commercial debt, with no economic returns at all or no revenue generation capacity for debt servicing, are at the core of the problem, as I have been continually pointing out.
The mega deals that were invariably involved with those mega projects, where the manipulation of cost estimates by simply multiplying the actual figure by several times had been made to appear the norm rather than the exception, remain largely responsible for the current debt-crisis—apart from being robberies of unprecedented scale amounting to crimes against the nation.
Continue
