Minutes of the third meeting of the seminar on urgent administrative problems of African governments : (Thursday, 4 October 1962)

Abstract

The discussion concluded by stating that, fiscal policies frequently led to vicious circles when the tax structure adversely affected the mass of people. He expressed the opinion that the saving habit should-be stimulated even among the very low-income brackets and the excessive borrowing, would certainly lead to bankruptcy in the case of countries as well as for individuals.