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A economic avalanche is coming
KenyanPlato:
Govt has not been able to pay its county employees since October. The cdf funds have not been disbursed yet. The pending bills amount to shs 600 billion. A debt default is the only solution. Reset the economic system and borrow locally till the economy is able to generate enough revenue
patel:
I pity those who thought it was best to do business with counties and government. Those pending bills is borrowed money from banks. Kenya banks should be subjected to stress test.
--- Quote from: KenyanPlato on January 11, 2024, 05:11:26 PM ---Govt has not been able to pay its county employees since October. The cdf funds have not been disbursed yet. The pending bills amount to shs 600 billion. A debt default is the only solution. Reset the economic system and borrow locally till the economy is able to generate enough revenue
--- End quote ---
gout:
The governors are getting their monies, reason why they no longer hold press conferences lamenting of delays. Most I can see them launching this or that program. Many more are just smarting thievery.
CDF money has been disbursed just that the thugs do not want to embrace Ndindi Nyoro's working formula as they won't be able to steal.
On pending bills, it is epic thuggery, those supplying today are getting paid but some of those who supplied in 2013 are still crying if not on HBP.
--- Quote from: patel on January 11, 2024, 05:30:57 PM ---I pity those who thought it was best to do business with counties and government. Those pending bills is borrowed money from banks. Kenya banks should be subjected to stress test.
--- Quote from: KenyanPlato on January 11, 2024, 05:11:26 PM ---Govt has not been able to pay its county employees since October. The cdf funds have not been disbursed yet. The pending bills amount to shs 600 billion. A debt default is the only solution. Reset the economic system and borrow locally till the economy is able to generate enough revenue
--- End quote ---
--- End quote ---
gout:
The reset continues. Lagged effects of Covid era restriction madness plus the crazy electricity prices.
--- Quote ---A disclosure by the National Treasury showed that loan defaults rose by 27.4 percent from Sh487.7 billion to Sh621.3 billion, marking the largest rise in a single year since CBK started making the data public.
The Treasury said manufacturing and trading sectors accounted for about Sh248.52 billion or 40 percent of the Non-Performing Loans (NPLs) at the end of December, pointing to struggles among businesses and an elevated fear of layoffs and slowdowns in new jobs.
--- End quote ---
https://www.businessdailyafrica.com/bd/corporate/companies/record-sh621bn-loan-defaults-push-banks-into-rare-profit-fall--4521758
gout:
Even tenderpreneurs cannot keep pace with the dollar.
https://www.businessdailyafrica.com/bd/corporate/companies/second-hand-cars-price-shocker-as-imports-drop-by-sh26bn--4521986
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