Conflict Between Finance And Economic Affairs: A Villager’s Perspective

A Minister of Finance and Economic Affairs wears two very different hats: Managing a country’s finances; and developing and managing the economic policy of the country

Ideally, these roles require two distinct skill sets—an accomplished accountant for finance and an accomplished economist for economic affairs. Finding a single person who excels in both is rare. I’m not talking about someone with just a BCom in Accounting and a BSc in Economics—true expertise requires substantial experience and proven high-level qualifications.

The Core Conflict: One Minister, Two Opposing Roles

Diving into each portfolio reveals a built-in conflict when handled by one person. Let me put it in simple, village-style logic:

As the head of economic planning, the minister is responsible for formulating economic policy and crafting development plans. These plans are then submitted to the same minister—now wearing the finance hat—to draft budgets and source funding.

Now, here’s the problem:

If poor economic policies lead to weak development plans and ineffective budgets, would the minister openly admit failure when reporting to the president? Imagine the Minister of Finance and Economic Affairs walking into the president’s office and saying, “Sir, the economic policy I designed was flawed, so the development plans and budgets are a disaster.” Would that ever happen? Of course not! And that’s the conflict right there.

The Case for Splitting the Portfolios

I strongly advocate for separating the two roles into Minister of Finance and Minister of Economic Affairs, for two critical reasons:

1.Finance Needs an Accomplished Accountant

• • In the private sector, no company puts a non-accountant in charge of its finances. Why should the government?
  • This position should require a professional qualification in accounting or finance, plus extensive experience in financial management in either the public or private sector.

2.Economic Affairs Needs an Accomplished Economist

• • Appointing a non-economist to head this ministry is like committing economic suicide.
  • The role demands someone who deeply understands the country’s economic dynamics and how they impact budgets.
  • A master’s degree or higher, plus vast experience in public policy formulation and implementation, should be the minimum requirement. Theory alone won’t cut it—this job needs a practical economist, not just an academic.

The Bottom Line: Keep Politics Out of It

These two ministries impact every other government sector and directly influence citizens’ well-being. The positions should be held by non-partisan professionals with proven expertise. If either ministry is led by political appointees with no relevant experience, the entire economy suffers. When the economy collapses, all ministries crumble, and the government scrambles for crisis management solutions—usually crude, desperate, and ineffective.

Don’t shoot me—I’m just a villager sharing common sense.

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