Thursday, June 28, 2012

The Economic Mess is Actually Bigger

Than previously reported. Although I had forgotten to add the budget of Jeetah's Ministry I didn't include the much larger capital repayments either. So that now -- based on the same budget 2010 numbers -- we have debt servicing 82% and 80% larger than the education budgets for 2012 and 2013 respectively. It was already 38% a couple of years ago.The total debt service for these four years is a staggering Rs69.25 billion and the corresponding figure for education spending is only Rs42.62 billion -- Rs27 billion more. That's roughly 10 Midlands Dam or one LRT plus a couple of billions to spare. In case you're wondering.

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