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Much ado about nothing

Friday, May 11, 2018

In his third mid-year budget review, and sixth economic address to the nation, our country’s economic saviour, Colm Imbert, delivered his most spirited performance, finally delivering the news of our carefully planned economic turnaround.

To thunderous applause, the minister boasted of his regimented tightening of the treasury’s purse, and incidentally the citizens’ noose, over his three-year reign.

The waiting game is over: the Government’s plan (or policy) of waiting on a turnaround, while doing little else to boost economic performance, has worked. Oil and gas are at a three-year high.

What does the minister have to boast of but the serendipitous rebounding of energy prices, surely at the hands of his ministry? The public should not be hoodwinked by economic jargon meant to confuse the layman. Just as the economy was collapsing to depressed energy prices; we are booming due to surging prices.

Had the minister done something meaningful over his tenure, a proactive approach to developing the non-energy sector and ending our dependence on exterior forces, would we join in the chorus of the empty applause his colleagues provided - I’m constantly reminded self praise is no praise. The minister has taken a tepid approach to the economy. Over three years he has initiated no form of diversification and has preferred to raise taxes and systematically decrease Government expenditure to stay afloat. Though we have not drowned, we have marooned ourselves to a sinking ship. Had energy prices not rebounded, we would have continued depleting our reserves and borrowing wildly for recurrent expenditure. In a do or die scenario we would have surely died- and the Minister must be praising God now that oil hath risen.

The minister now has a second chance at the promised land of economic diversity. Now that the economy is once again cushioned we can hope Imbert begins acting as he behaves and arrogantly push forward real diversity.

Via e-mail


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