Respected economists have long pointed out that gross domestic product (GDP) is an inadequate measure of economic development and social well-being, and thus should not be policymakers’ sole fixation. Yet we have not gotten any closer to finding a feasible alternative to GDP.
As revealed later in the explanatory note attached to the bill introduced to parliament regarding federal government supplementary budget, this time around, the NBE’s measure was a means to raise money and contribute to windfall tax that was later earmarked to make significant contribution to the budget.
