There's no money in the treasury at all - DP Rigathi Gachagua pic.twitter.com/5ExCinLqOz
— Kenyans.co.ke (@Kenyans) September 18, 2022
In my considered opinion an integral part of President William Ruto's agenda in re-building the country/reviving the economy must entail recovery of the trillions stolen by the blue eyed boys/girls of Uhuru govt...including the low hanging fruits of the 4 CSs dollar Billionaires
— Ahmednasir Abdullahi SC (@ahmednasirlaw) September 19, 2022
When the former president looted billions from the country's coffers, a country contending with a ballooning public sector wage bill and the current annual legislature’s budget is 2% of the national budget. What do you expect?There's no money in the treasury at all - DP Rigathi Gachagua pic.twitter.com/5ExCinLqOz
— Kenyans.co.ke (@Kenyans) September 18, 2022
Kenya debt distress started all the way back in 2018, that's when it was forced to impose vat on fuel by IMF. All that time government has been borrowing and spending to keep the economy afloat. Whitewashing the 1st jubilee government and going after second term thieves wont cut it. The reality is government economic policy has to be driven by prevailing conditions.
When they put the Borana I knew it was dead. Nobody want to touch it now because you spend all your time on phone calls trying to raise money - instead of spending or looting money. Borana has eaten the last bit of itKenya debt distress started all the way back in 2018, that's when it was forced to impose vat on fuel by IMF. All that time government has been borrowing and spending to keep the economy afloat. Whitewashing the 1st jubilee government and going after second term thieves wont cut it. The reality is government economic policy has to be driven by prevailing conditions.
So is there money coming in or not?
If so, how short and what is the solution?
Give exact figure, because stolen is so broad.
Whoever stole let govt go after them, stop politicizing it.
Sounds like someone has no plan and keeps repeating "stolen" and in this case they dont have to do anything.
Beside Ruto was in govt as a VP
Tulia.
The details will emerge soon.
What is not in doubt - gov is broke.
Ruto will not be judged for his vp or dp record.
He will be charged - 5yrs from now.
You will need a lot of patience.
This is not a week even.
So is there money coming in or not?
If so, how short and what is the solution?
Give exact figure, because stolen is so broad.
Whoever stole let govt go after them, stop politicizing it.
Sounds like someone has no plan and keeps repeating "stolen" and in this case they dont have to do anything.
Beside Ruto was in govt as a VP
Kenya debt distress started all the way back in 2018, that's when it was forced to impose vat on fuel by IMF. All that time government has been borrowing and spending to keep the economy afloat. Whitewashing the 1st jubilee government and going after second term thieves wont cut it. The reality is government economic policy has to be driven by prevailing conditions.
If he knew what was going on and kept mum, then in my opinion he lost credibility. Take responsibility and stop the propaganda. Going forward, whatis the solution???
He was in govt as a VP, let him not deny it. He must be judged on his performance, otherwise.... He was privy to what was going on - if there is anything.
Let the law take care of law breakers.
Is this propaganda???
Money comes from taxation and fees, did KRA stop collecting after Uhuru left?
Uhuru took KRA with him??
Then how come they keep spending if there is no money??
The government need to find ways to increase revenue generated
Treasury is broke if total KRA collect monthly is not enough to meet debt repayment+consolidated accounts requirements+salary+development.
KRA collects 150-200B per month.
Treasury also tries to borrow every month - another 50-60B - this normally takes care of debt repayment - we are refinancing basically.
Problem is the 150B - enough to meet consolidated payments+pension+salaries+recurrent expenditure+ development.
Omera this is not good 'dialogue' by Riggy D. Someone tell him the meaning of You Touch It You Own It. In Politics, you'll own the blame for what inherit period. Your duty is better the mess you inherit and do more. For a tenure of 60 months, you don't have time/luxury to go after akina Murathe. Plus somethings are best left for boardroom discussion to avoid public panic. Another path can be to leak it to Journalists and let them drive it. I wonder Kibaki inherited from Moi, and look at the public confidence and optimism he built!Treasury is broke if total KRA collect monthly is not enough to meet debt repayment+consolidated accounts requirements+salary+development.
KRA collects 150-200B per month.
Treasury also tries to borrow every month - another 50-60B - this normally takes care of debt repayment - we are refinancing basically.
Problem is the 150B - enough to meet consolidated payments+pension+salaries+recurrent expenditure+ development.
From Githongo, Moi left Kibaki with a very fat Treasury in billions that kept Kibaki Rolling on day one. Uhuru left less than 100 millions shillings in the Treasury. Come to think about it and most of us in the diaspora were richer than Kenya's Treasury.
Omera this is not good 'dialogue' by Riggy D. Someone tell him the meaning of You Touch It You Own It. In Politics, you'll own the blame for what inherit period. Your duty is better the mess you inherit and do more. For a tenure of 60 months, you don't have time/luxury to go after akina Murathe. Plus somethings are best left for boardroom discussion to avoid public panic. Another path can be to leak it to Journalists and let them drive it. I wonder Kibaki inherited from Moi, and look at the public confidence and optimism he built!From Githongo, Moi left Kibaki with a very fat Treasury in billions that kept Kibaki Rolling on day one. Uhuru left less than 100 millions shillings in the Treasury. Come to think about it and most of us in the diaspora were richer than Kenya's Treasury.Treasury is broke if total KRA collect monthly is not enough to meet debt repayment+consolidated accounts requirements+salary+development.
KRA collects 150-200B per month.
Treasury also tries to borrow every month - another 50-60B - this normally takes care of debt repayment - we are refinancing basically.
Problem is the 150B - enough to meet consolidated payments+pension+salaries+recurrent expenditure+ development.
Government is fixated on easy to collect taxes such as paye,vat, excise tax and import duty etc. Someone making 15k is taxed at 12% paye, there hasn't been any serious effort to broaden tax base. There's no incentive to formalize, there're several impediments to formalization mainly cost of complying. The ideal situation would be to lower taxes and rope in everyone who's engaged in any economic activity. There's really no reason why someone making 15k should be paying paye , the starting rate should be at 30k and top rate should be someone making 300k not someone making 150k.Kenya debt distress started all the way back in 2018, that's when it was forced to impose vat on fuel by IMF. All that time government has been borrowing and spending to keep the economy afloat. Whitewashing the 1st jubilee government and going after second term thieves wont cut it. The reality is government economic policy has to be driven by prevailing conditions.
HK.
What I see in Kenya, those who are well off pay no taxes at all. The working class takes care of all the bills. They have had it. Fuel tax is a burden on the working class, yet if i have 10 apartments I pay little to no tax. If I own 1mil acres of land I pay NO TAX. Yet a matatu driver must pay tax every time he she gets out of the house. It is a rich eating the middle class in Kenya, and politicians joining in. Also too many regulations that impede development - why should AirBnB be classified under big hotel? Counties also impose ridicilous tax on any business - thus discouraging development. Man more. My 2 cents.
Ruto has been in govt and never said a word, now pretends to have an imaginary plan. Where is it? I believe in action not talk.
I want to hear "next month we will do such and such", not they stole crap.
Government is fixated on easy to collect taxes such as paye,vat, excise tax and import duty etc. Someone making 15k is taxed at 12% paye, there hasn't been any serious effort to broaden tax base. There's no incentive to formalize, there're several impediments to formalization mainly cost of complying. The ideal situation would be to lower taxes and rope in everyone who's engaged in any economic activity. There's really no reason why someone making 15k should be paying paye , the starting rate should be at 30k and top rate should be someone making 300k not someone making 150k.Kenya debt distress started all the way back in 2018, that's when it was forced to impose vat on fuel by IMF. All that time government has been borrowing and spending to keep the economy afloat. Whitewashing the 1st jubilee government and going after second term thieves won't cut it. The reality is government economic policy has to be driven by prevailing conditions.
HK.
What I see in Kenya, those who are well off pay no taxes at all. The working class takes care of all the bills. They have had it. Fuel tax is a burden on the working class, yet if i have 10 apartments I pay little to no tax. If I own 1mil acres of land I pay NO TAX. Yet a matatu driver must pay tax every time he she gets out of the house. It is a rich eating the middle class in Kenya, and politicians joining in. Also too many regulations that impede development - why should AirBnB be classified under big hotel? Counties also impose ridicilous tax on any business - thus discouraging development. Man more. My 2 cents.
Ruto has been in govt and never said a word, now pretends to have an imaginary plan. Where is it? I believe in action not talk.
I want to hear "next month we will do such and such", not they stole crap.
Bottomline kenya economy will remain informal until there's change of tax regime. Simple, broad and flat tax would be ideal. Its been 20yrs since etr were introduced a major upgrade connected to ecitizen is overdue.
https://data.worldbank.org/indicator/NE.EXP.GNFS.CD?locations=KE kenya exports. Kenya exported $11b worth of goods and services in 2021, those are things that other countries need or kenya has competitive advantage. There's really no difference between Bangladesh sweatshops and flower farms in Kenya. Actually I'd argue that horticulture has greater economic impact on an economy since it combines asset owner( small farmers) producing goods from their asset than just hired labor in sweatshops.QuoteThe government need to find ways to increase revenue generated
For this to happen, the people need to become more productive. They need to make things that people want or need. I keep asking what it is that Kenya makes that other countries NEED?
Low and middle income earners are overtaxed in Kenya. The elitist peddles the myth that this group does not pay taxes.Yes low and middle income earners pay taxes mainly indirectly, its the reason why indirect taxes are high. Someone making 15K per month paying PAYE at 15% is being overtaxed and not to mention increasing the cost of labor for the employer. Surely someone making less than 30k shouldn't be paying paye at 15% plus pay all the other indirect taxes. There's empirical evidence that lowering and broadening taxbase increases tax revenue. Landlord rate was reduced to a flat rate of 10% gross, now kra is collecting more taxes from landlords.
Besides coffee, tea and flowers what else? what services? agriculture not enough for a growing population that will surpass 50 millionOf course its not enough that's why we not only need to increase productivity in agriculture, moving up the value chain is paramount if kenya is to develop. Agriculture underpins manufacturing in kenya. Any development would occur without investments(entrepreneurs), so basically Kenya needs investors more than anything.
Besides coffee, tea and flowers what else? what services? agriculture not enough for a growing population that will surpass 50 millionOf course its not enough that's why we not only need to increase productivity in agriculture, moving up the value chain is paramount if kenya is to develop. Agriculture underpins manufacturing in kenya. Any development would occur without investments(entrepreneurs), so basically Kenya needs investors more than anything.
fruits, spices, meat, French beans a lot. we can export fish if we get the farming supply chain issues right. Kenya potential is in competitive advantage not export substitutionBesides coffee, tea and flowers what else? what services? agriculture not enough for a growing population that will surpass 50 millionOf course its not enough that's why we not only need to increase productivity in agriculture, moving up the value chain is paramount if kenya is to develop. Agriculture underpins manufacturing in kenya. Any development would occur without investments(entrepreneurs), so basically Kenya needs investors more than anything.
Get agriculture working, Get SEZ in lamu and Mombasa for EPZ kind of business... especially lamu idle deep sea port.I would go big in Lamu ..create 100,000 acre special economic zones with zero taxes, diplomatic status for investors...give them free land...then watch them employ millions and export merchandise worldwide...this should attract Chinese bound manufacturing.After 10yrs let them pay taxes...this should be top priority lamu and dog kundum.manufacturing cannot be done inland..it has to be near the port for easy raw materials shipping and export of finished goods.Lamu is ready with deep sea port..make it free port and include it as part of SEZ...fuck environmental issues about magrove....go big on solar power...and build the coal plants
The United States has overtaken Uganda as the largest buyer of Kenyan goods, ending Kampala’s dominance as the top market for Kenya’s exports.
Official data show that exports to the US jumped 47 percent to Sh38.8 billion in the first half of the year on the back of increased sales of clothes.
Kenya exported Sh59.6 billion worth of goods to the US in 2021, of which more than 75 percent entered duty-free under AGOA -- chiefly apparel, macadamia nuts, coffee, tea and titanium ores -- according to the Congressional Research Service