I have just been thinking about Africa lately. Our continent is currently at a crossroads, we can either make it or break it. It is becoming apparent to the world that the future of food production and agribusiness is strongly linked to Africa. The continent still has potential to expand area under production and to intensify production through new technologies. The developed countries are well aware of this and seem to be ready to do business with Africa. But where is the deadlock? Why is the puzzle not fitting together?
In addition to the resources advantages of good land, climate and minerals, Africa has another advantage - a burgeoning and most youthful population. While the developed world has to deal with an ageing population, Africa is carrying a 'ticking time bomb' or a demographic dividend for the continent - the youth. If these young men and women do not get jobs or fail to become true value-creating entrepreneurs, the whole continent could just explode! But if they…
Defining fiscal space
Fiscal space is defined by the balance between government revenue (i.e. tax), denoted by T and government expenditure, denoted by G, through time. For instance, if G < T, then there is a fiscal surplus, but if G > T, then there is a fiscal deficit. A sustained or perpetual deficit through time results in build-up of annual deficits, leading to an unsustainable high debt. With a high level of debt, the government cannot borrow on the international market, and its ability to finance future deficits, i.e. the fiscal space is limited.
Zimbabwe currently endures very limited fiscal space since debt distress is undermining the capacity of the country to service its debt obligations. Accumulation of external payment arrears since 2000 (including interest charges) has resulted in public and publicly guaranteed debt reaching 51% of GDP and was projected to reach US$7.2 billion by December 2014 (Chinamasa, 2014).
Fiscal space is constraining agricultural growth
"Lack of gratitude is as the sin of witchcraft" - (My Translation of a common Shona Proverb) Sometime back I asked for your support in the YoBloCo , Young Agriculture Blogger Competition.
I would really like to thank all those who voted for this blog, and all those who found time just to look at my blog and read the posts. I know time is expensive for you all to make detailed comments on each posts, BUT I also know that you read my blog, because the number of views has kept on increasing to over a 1,500 views now!
I am very pleased to share with you that even though the Barefoot E-ssue did not make it into the top 12 Blogs, we sure did get a special mention from CTA! Check out the News item here!
In the same regard, I would also like to extend my warm gratitude to the Technical Center for Agricultural and Rural Cooperation (CTA) for organizing the Web 2.0 Training that introduced me to blogging and birthed the Barefoot E-ssue.
By the way, I started the Barefoot E-ssue as part …