The budget debate has just concluded, and we all got a chance to get a full explanation of how the government plans to spend its revenues earned from taxes and fees to run the country.
Some persons can fully understand all the complex terms and get a full appreciation of what the information means. But if you fall into the category of confusion when you hear the term net international reserves, fiscal surplus and so on. Don’t worry, I have your back, stick with me for the next few minutes to get a full understanding of what some of these terms mean and how they apply to you.
First let’s start with the term Net International reserves. Think of having a savings account in a foreign currency such as US dollars, British pound or even the Euro. The reserve must be kept at a certain amount, but its not there to gather dust, it serves a very specific purpose for the country.
