A post budget political economy analysis of EAC Countries 2024/25 budget priorities, viabilities, risks and how governments can restore public confidence
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A post budget political economy analysis of EAC Countries 2024/25 budget priorities, viabilities, risks and how governments can restore public confidence
This brief uses a political economy and trend analysis of the budget allocation priorities and estimates for 2023/4 and 2024/2025 as a basis to evaluate the extent to which East Africa Community (EAC) Countries budget policies and priorities are viable, fit into the local and global context but at the same time promote equity and reduce the economic burden on ordinary citizens. It exposes the embedded risks, misalignments and further highlights the magnitude of the debt burden plaguing all EAC countries and its likely impact on budget viability and future macroeconomic targets. It rekindles the need for an evaluation of budgeting processes in EAC, a revival of citizens participation in budgeting and repositioning the budget at the Centre for public policy. The final conclusion is that there are malignant risks. Governments must budget better, tax wisely, address debt and strengthen public participation to revamp citizens confidence and trust in the national budget processes.
