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Forum => Kenya Discussion => Topic started by: Pajero on February 23, 2019, 11:25:22 AM

Title: Kenya’s debt getting out of control – CoB
Post by: Pajero on February 23, 2019, 11:25:22 AM

The Controller of Budget (CoB) is concerned that Kenya will spend Sh1.1 trillion of its Sh1.87 trillion projected revenue collection next financial year to pay debts.

Presenting views on the 2019/20 Budget Policy Statement (BPS) before the Senate Finance Committee, Joshua Musili, director research and planning at the CoB said it is unreasonable for the country to spend 60 per cent of its revenue in debt payment.

Musili said the high debt obligation will leave the National Treasury with only Sh600 billion for other expenses.

‘’Our debt situation has hit the roof. It means, for every Sh100 the government will collect next year, 60 per cent will go towards debt payment. This is not good for the economy,’’ Musili said.

Title: Re: Kenya’s debt getting out of control – CoB
Post by: RVtitem on February 23, 2019, 12:57:15 PM

There's still room to borrow more.

In fact the gdp need to be rebased again in rhe next few years

Title: Re: Kenya’s debt getting out of control – CoB
Post by: hk on February 25, 2019, 08:27:55 AM

KRA will most likely collect 1.6t not 1.8t. which means the budget deficit will be over 8%. This year there's going to be treasury cash crunch. No wonder all the ill thought out, inflated projects have stalled.

Title: Re: Kenya’s debt getting out of control – CoB
Post by: RV Pundit on February 25, 2019, 08:31:39 PM

I think if they deal with stamps fraud kra can get 100b that it now routinely miss in their projections..Africa spirits.In short corruption fight ought to intensify...at KRA level.

Title: Re: Kenya’s debt getting out of control – CoB
Post by: Kadudu on February 26, 2019, 10:41:19 AM

You think or you know? Kindly deal with facts and not wishes.

Quote from: RV Pundit on February 25, 2019, 08:31:39 PM

I think if they deal with stamps fraud kra can get 100b that it now routinely miss in their projections..Africa spirits.In short corruption fight ought to intensify...at KRA level.

Title: Re: Kenya’s debt getting out of control – CoB
Post by: RV Pundit on February 26, 2019, 11:35:59 AM

Quote from: Kadudu on February 26, 2019, 10:41:19 AM

What your point.We know there is a lot of tax evasion and if kra tighten it's systems they can get that money.Kariuki alone could have evaded 5-10B...it not hard to imagine that is what most manufactures do.
You think or you know? Kindly deal with facts and not wishes.

Quote from: RV Pundit on February 25, 2019, 08:31:39 PM

I think if they deal with stamps fraud kra can get 100b that it now routinely miss in their projections..Africa spirits.In short corruption fight ought to intensify...at KRA level.

Title: Re: Kenya’s debt getting out of control – CoB
Post by: RV Pundit on February 26, 2019, 11:37:54 AM

90B dollars economy like ours should easily generate 18B...not 16B kra is struggling with
Now.Time to fire Njiraini and bring Haji-Kenoti-Mbarak combo.