What they have to admit openly following briefings by the new broom is that the Treasury had been cooking the books.
Our GDP and economic growth projections have been based on falsified numbers, which, in turn, created the rationale for crazy budget proposals and increased borrowing to cover the deficits.
What has been most shocking is that nobody at the Treasury seems to have exact figures for the national debt.
Sensationalized BS.
That is why we say central composition of growth is important because if it is just driven by infrastructure that doesn’t quite bring income to your grandmother. She needs to care not because it is 6.5 per cent, but because of what really hits her pocket books
Are you serious with your views or are you just a Juilee fanatic? Btw, Uhuru cannot even face "his" people in Central not because of politics, but they too are feeling the pinch in the economy.
The effect of the thefts and plunder have hit home. All the monies carted away to offshore accounts or lying around in local banks moving around as T Bills. Seems counties have to start firing staff next year. Treasury will also start strugling paying salaries next year - quite good for economic recovery path!
The brutal budget cuts have already paralysed Judiciary tribunals.
This is Njoroge - the demonitiser bullshitter is also not impressed with his figures.QuoteThat is why we say central composition of growth is important because if it is just driven by infrastructure that doesn’t quite bring income to your grandmother. She needs to care not because it is 6.5 per cent, but because of what really hits her pocket books
https://www.nation.co.ke/business/CBK-faults-economic-structure-as-growth-prospects-fall/996-5328538-g8fn52/index.html
Commercial banks liquidity rose by 10.9 percent to Sh4.6 trillion last year, sending liquidity ratio to three-year high of 50.6 percent as lenders slowed their pace of lending.
Fresh data from Kenya National Bureau of Statistics (KNBS) show that the liquidity ratio grew from 46.4 percent in December 2017, with lending appetite being constrained by the interest rate cap.
Last month, the National Treasury cut down Judiciary’s budget by Sh3 billion, citing revenue shortfalls and the need to raise funds for President Kenyatta’s Big Four agenda.
It also squeezed Sh131 billion from different Government agencies.
The Judiciary had requested Sh31.2 billion, but Parliament allocated it Sh14.5 billion, which the National Treasury has now slashed to Sh11.5 billion.
Clearly, we have major integrity issues with the quality of statistics on government finances. What has been going on is but a blatant game of deception that starts with the Treasury giving us exaggerated GDP growth numbers, which lead them to produce exaggerated revenue targets, unsustainable budget deficits, and on to spending plans they are incapable of funding.
It is only a question of time before Kenya calls for help from the IMF.
Our Treasury officials have been cooking the books. The government does not want to face the truth but admits it secretly.QuoteClearly, we have major integrity issues with the quality of statistics on government finances. What has been going on is but a blatant game of deception that starts with the Treasury giving us exaggerated GDP growth numbers, which lead them to produce exaggerated revenue targets, unsustainable budget deficits, and on to spending plans they are incapable of funding.
https://www.nation.co.ke/oped/opinion/Punish-culprits-of-deceit-at-the-Treasury-and-correct-the-books/440808-5329552-f8jfauz/index.html
?ref_src=twsrc%5Etfw">October 30, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>I DON'T think this statement by @njorogep was correctly digested by Kenyans.
— Ahmednasir Abdullahi SC (@ahmednasirlaw) October 30, 2019
ā—¸He DISOWNED the economic policy of H.E Uhuru & Treasury
ā—¸He dismissed the GDP growth as FAKE
ā—¸He states for the record that JUBILEE has let down Kenyans
ā—¸Set up his alibi for the coming CRASH pic.twitter.com/yXUhousVTU
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I DON'T think this statement by <a href="https://twitter.com/njorogep?ref_src=twsrc%5Etfw">@njorogep</a> was correctly digested by Kenyans.<br>?He DISOWNED the economic policy of H.E Uhuru & Treasury<br>?He dismissed the GDP growth as FAKE<br>?He states for the record that JUBILEE has let down Kenyans<br>?Set up his alibi for the coming CRASH <a href="https://t.co/yXUhousVTU">pic.twitter.com/yXUhousVTU</a></p>— Ahmednasir Abdullahi SC (@ahmednasirlaw) <a href="?ref_src=twsrc%5Etfw">October 30, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>I DON'T think this statement by @njorogep was correctly digested by Kenyans.
— Ahmednasir Abdullahi SC (@ahmednasirlaw) October 30, 2019
ā—¸He DISOWNED the economic policy of H.E Uhuru & Treasury
ā—¸He dismissed the GDP growth as FAKE
ā—¸He states for the record that JUBILEE has let down Kenyans
ā—¸Set up his alibi for the coming CRASH pic.twitter.com/yXUhousVTU
Pundit will write here CBK Governor Njoroge is one of the naysayers on the economy of Kenya. 8) 8) 8)
We will soon know the truth as this one cannot be hidden forever.
We have been online without for 15yrs - precisely from 2005 - till now - 15yrs you've been pessimistic and expecting kenyan economy to crash. It won't happen. Kenya economy is set to grow 5.6% - or maybe even 5.8% - now that rains are back. The same way you've been expecting a property crash in Nairobi - not happening - now with rate capping remove - the music is back on.
I stopped reading when he skipped the numbers - and run away with innuendos from parliament.RV, here are some numbers you better believe in. Some of these people are probably folks you know and/or friends. It is being called K24/kameme massacre.Are you serious with your views or are you just a Juilee fanatic? Btw, Uhuru cannot even face "his" people in Central not because of politics, but they too are feeling the pinch in the economy.
Pundit will write here CBK Governor Njoroge is one of the naysayers on the economy of Kenya. 8) 8) 8)
We will soon know the truth as this one cannot be hidden forever.<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I DON'T think this statement by <a href="https://twitter.com/njorogep?ref_src=twsrc%5Etfw">@njorogep</a> was correctly digested by Kenyans.<br>?He DISOWNED the economic policy of H.E Uhuru & Treasury<br>?He dismissed the GDP growth as FAKE<br>?He states for the record that JUBILEE has let down Kenyans<br>?Set up his alibi for the coming CRASH <a href="https://t.co/yXUhousVTU">pic.twitter.com/yXUhousVTU</a></p>— Ahmednasir Abdullahi SC (@ahmednasirlaw) <a href="?ref_src=twsrc%5Etfw">October 30, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>I DON'T think this statement by @njorogep was correctly digested by Kenyans.
— Ahmednasir Abdullahi SC (@ahmednasirlaw) October 30, 2019
ā—¸He DISOWNED the economic policy of H.E Uhuru & Treasury
ā—¸He dismissed the GDP growth as FAKE
ā—¸He states for the record that JUBILEE has let down Kenyans
ā—¸Set up his alibi for the coming CRASH pic.twitter.com/yXUhousVTU
Credit due to whoever memeā€™d this! pic.twitter.com/UrnexpU1mX
— KipCold Arap Tusgher ā“‹ (@coldtusker) October 25, 2019
Business models are changing.Advertising revenues are moving from mass media to social media.You think the money Facebook and Google are making are from where.. they are eating kameme k24 lunch.Mass media has to become nimble to survive as revenue shrinks
Mediamax replaced kenyatimes as a govt leech in terms of adverts ..so no gok money no jobs at mediamax...cit8zens and others are surviving bec9z they are not on gok cheese
Stop digititising cronyism