Uwaleke: Next Phase of Reforms Should Address Budget Implementation Weakness, Public Spending Inefficiency
Ndubuisi Francis in Abuja
Renowned professor of capital market and former Commissioner for Finance, Imo State, Uche Uwaleke, has stated that renewed policy coherence is one of the defining characteristics of the current administration’s economic strategy, but admonished that the next phase of reforms should focus on addressing persistent budget implementation weakness and public spending inefficiency.
Appraising President Ahmed Tinubu administration’s economic trajectory in the past 36 months in an article titled, ‘Three Years After: A Critical Evaluation of Tinubu’s Economic Reforms’, Uwaleke noted that several macroeconomic indicators currently reflect gradual stabilisation, adding that these developments collectively suggest that the reforms, though painful, are beginning to yield measurable macroeconomic benefits.
But he observed that one of the major structural problems undermining economic development is the continued implementation of overlapping and multiple-year budgets, which often delays capital project execution and weakens fiscal discipline.
