BY SAMIE WAIKORI
Leader of Opposition Matthew Wale has raised concern about the credibility of the 2026 budget, saying if revenue falls short, borrowing becomes the next option.
However, Wale stressed that any borrowing must be directed towards productive investments that can generate income to repay the loans.
Speaking recently on Insight, Wale said he has repeatedly urged the government in parliament not to fear borrowing.
“You would have heard that I have made the point repeatedly in Parliament, urging the government not to fear borrowing,” he said.
Wale emphasised that the productivity of government borrowing is critical, noting that while he supports borrowing, it must be tied to productive investments.
He said investments in agriculture, tourism, and fisheries would significantly benefit the economy, both by increasing gross domestic product and generating government revenue to service the debt.
However, Wale warned that clear implementation plans must be in place before any funds are borrowed.
He added that it is crucial to pre-plan the capacity of ministries and other stakeholders to implement projects and absorb the level of investment in a productive way.
“These are the areas that must be considered before borrowing. If done properly, it will have a positive impact on the economy,” he said.
Wale stressed that economic planning must look ahead 10 to 15 years and remain the focus of government policy.
He said it would be disappointing if the country continues repeating the same approaches of the past decade.
Wale warned that in 15 years’ time, the country’s population could reach close to 1.5 million, and life would become much harder if the government does not change the way it does things now.
