The decision by the treasury to reduce spending on international travels, meetings, seminars and training in the next fiscal year, which begins in July is certainly good news.The move is partly driven by the current fiscal deficit. As a result, government would save Rwf13 billion, which would be invested in development projects.There are concerns over a widening trade deficit with projections. Yet turbulence in the global economy is threatening to inflict even more pain on the country’s exports. Demand in the global economy is shrinking, particularly for commodities such as tea and coffee, which are among the major sources of the country’s forex exchange.With the uncertainties in regional and global economies, treasury needs to make serious tradeoffs, by taking prudent measures. Checking the expenses mentioned above is one of them.This would allow government to invest in projects that boost exports, create jobs and sustain the high level of economic growth the country registered last year.Also welcome is news that Government plans to scale up investment in the teachers savings cooperative scheme, Umwalimu Sacco, to the tune of Rwf10 billion, up from Rwf500 million.This is the kind of spending that will positively impact the lives of teachers and their families, thus benefiting the country.
