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Post by jakaswanga on Jun 13, 2013 21:38:33 GMT 3
Well, the Kennedy-man has finally shown his hand. And it suspiciously looks like Njeru Githaes 1.4 ksh trillion of last year! I gues it is prepared by the same people, only now they have to patch up a larger recurrent expenditure hole. All those governors and their hangers on on mega salaries have to be kept happy. As they say, there is no such thing as a free lunch, and now the bill comes for the new dispensation. Maize flower and viazi in line for 16% VAT? Then you really know folks have been scraping the bottoms of their brains, and ran out of options. These are desperate times! www.standardmedia.co.ke/?articleID=2000085889&story_title=rotich-unveils-kenya-s-2013-14-budgetBy Fredrick Obura NAIROBI, KENYA: The government on Thursday unveiled Sh 1.6 trillion budget under the theme transformation for shared prosperity.
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Post by jakaswanga on Jun 13, 2013 21:42:11 GMT 3
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Post by jakaswanga on Jun 13, 2013 22:17:59 GMT 3
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Post by jakaswanga on Jun 13, 2013 22:22:17 GMT 3
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Post by OtishOtish on Jun 13, 2013 22:25:33 GMT 3
Look on the bright side, friend. There appears to be a measure there that will bring joy to all booze-heads and barmaids.
By the way, did I tell you about my cousin who's starting a business that will buy and re-sell Std. 1 laptops? This digital thinking will put food on the plates of parents and children and help in job-creation and the development of new businesses.
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Post by jakaswanga on Jun 13, 2013 22:44:13 GMT 3
Look on the bright side, friend. There appears to be a measure there that will bring joy to all booze-heads and barmaids. By the way, did I tell you about my cousin who's starting a business that will buy and re-sell Std. 1 laptops? This digital thinking will put food on the plates of parents and children and help in job-creation and the development of new businesses. I am trying my best to be a 'positivo'! Rotich is from the best university in the world! he knows what he is doing! he is a safe pair of hands! ---He is our great hope, our Andrea Chilulu who got a disease called degree after reading all the whitemans books and transferring all the knowledge to his head, bringing it home, and now will transform our world! Never has a character cut Rotich more slack than yours truly! It is just that all this talk of taxing unga, maziwa, beans and mchele ---which even as they are now are only christmas-time visibilities in many households, gets to my nerves and reminds me of the 'colonial hut tax'! Predatory taxation by a cannibalistic body politic! But I trust in Henry! Herculean he will be!
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Post by OtishOtish on Jun 14, 2013 1:35:08 GMT 3
Look on the bright side, friend. There appears to be a measure there that will bring joy to all booze-heads and barmaids. By the way, did I tell you about my cousin who's starting a business that will buy and re-sell Std. 1 laptops? This digital thinking will put food on the plates of parents and children and help in job-creation and the development of new businesses. I am trying my best to be a 'positivo'! Rotich is from the best university in the world! he knows what he is doing! he is a safe pair of hands! ---He is our great hope, our Andrea Chilulu who got a disease called degree after reading all the whitemans books and transferring all the knowledge to his head, bringing it home, and now will transform our world! Never has a character cut Rotich more slack than yours truly! It is just that all this talk of taxing unga, maziwa, beans and mchele ---which even as they are now are only christmas-time visibilities in many households, gets to my nerves and reminds me of the 'colonial hut tax'! Predatory taxation by a cannibalistic body politic! But I trust in Henry! Herculean he will be! I feel for you, buddy. I just noticed that the deal on Senator is not as good as for the consumer as my man initially told me. Take my good and free advice: stick to the chang'aa and busaa at Mama Mboga's, and leave Senator to MPs and others who are raking it in. "unga, maziwa, beans and mchele"? That's too basic. Too 20th century. Get diggy digital!
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Post by mank on Jun 14, 2013 6:50:39 GMT 3
Greetings good people. Just a word. I am not opposed to huge government budgets, but I am opposed to large government budgets that finance the wrong priorities. In this case I see mention of agriculture and agribusiness, both which may be good (depending on implementation). But what is the allocation to vital faculties like education, health and infrastructure? How much of the big budget is for the fact pigs?
I read somewhere that GK will have new capital asset taxation structure so "the rich can share in the nation's prosperity." If you grew on a couple of acres of land like me, watch out folks! You will have to pay tax on that humble property ... when it rains, and when it does not. If you own land, you are rich. Perhaps.
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Post by omundustrong on Jun 14, 2013 8:19:43 GMT 3
A 1.5% Railway levy on all imports is a step in the right direction as previously rail has been paying road levy which goes to improve the competitor.As for the other sectors iam yet to go through the budget proposal to come up with informed comments.The levy will go along way in improving the railway infrastructure.
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Post by omundustrong on Jun 14, 2013 8:19:53 GMT 3
A 1.5% Railway levy on all imports is a step in the right direction as previously rail has been paying road levy which goes to improve the competitor.As for the other sectors iam yet to go through the budget proposal to come up with informed comments.The levy will go along way in improving the railway infrastructure.
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Post by kamalet on Jun 14, 2013 14:03:33 GMT 3
Greetings good people. Just a word. I am not opposed to huge government budgets, but I am opposed to large government budgets that finance the wrong priorities. In this case I see mention of agriculture and agribusiness, both which may be good (depending on implementation). But what is the allocation to vital faculties like education, health and infrastructure? How much of the big budget is for the fact pigs? I read somewhere that GK will have new capital asset taxation structure so "the rich can share in the nation's prosperity." If you grew on a couple of acres of land like me, watch out folks! You will have to pay tax on that humble property ... when it rains, and when it does not. If you own land, you are rich. Perhaps. Mank The allocation to Education was 273B and infrastructure was 125B. The Capital Gains Tax abolished by Kibaki in the early 80s seems set to return and hopefully it will be applied in the more speculative areas of our economy like land and real estate and will leave out investments in such places as the stock exchange as it could end up stifling trade on the NSE.
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Post by mank on Jun 14, 2013 16:29:20 GMT 3
Mank The allocation to Education was 273B and infrastructure was 125B. The Capital Gains Tax abolished by Kibaki in the early 80s seems set to return and hopefully it will be applied in the more speculative areas of our economy like land and real estate and will leave out investments in such places as the stock exchange as it could end up stifling trade on the NSE. That mostly sounds positive. This thing about capital taxation though is likely to send jitters through the economy, and pray it is well targeted. However, I am supportive of capital gains tax with a catch: the government must improve its oversight on capital asset trading, provide reasonable assurance to participants and generally grease up the wheels of the markets. For the government to administer capital gains tax properly it must device a good record keeping system, which can beneficial to the market in general.
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Post by abdulmote on Jun 14, 2013 18:26:58 GMT 3
I simply don't understand. I have been agonising over some of the VAT proposals but I cannot find a justifiable explanation on the same: The MPs want to be paid in bucket loads and have their meals covered for themselves and their friends. They must also be paid a whole five million shillings in grant that they can purchase luxury vehicles whilst at it. The lazy Commissioners take home millions of shillings every month for work that can hardly be seen. Billions of shillings have to be set aside for some very expensive toys, a la laptops, even before we can ponder on the cheapest and suitable alternatives. The Judiciary want to spend some 300 million shillings on an aircraft, whilst cases already filed are taking decades, gathering dust in the archives waiting to be determined. The Civil Servants now want 90 percent increase on their wages.
And to finance such runaway grandeur, the poor man's sugarless porridge has to be reduced by at least a fifth. Out of the ten slices of unbuttered bread for the families of ten heads, the government wants at least two slices taken away for its mega budget that the rich may continue to feed their gluttony. An today I read that even the poor man's fuel for lighting has to go up by some 5 shillings a litter. Petrol on the other hand has to go down.
What in hell is going on? This is really a very sad period in our time.
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Post by jakaswanga on Jun 14, 2013 19:48:14 GMT 3
Greetings good people. Just a word. I am not opposed to huge government budgets, but I am opposed to large government budgets that finance the wrong priorities. In this case I see mention of agriculture and agribusiness, both which may be good (depending on implementation). But what is the allocation to vital faculties like education, health and infrastructure? How much of the big budget is for the fact pigs? I read somewhere that GK will have new capital asset taxation structure so "the rich can share in the nation's prosperity." If you grew on a couple of acres of land like me, watch out folks! You will have to pay tax on that humble property ... when it rains, and when it does not. If you own land, you are rich. Perhaps. Mank, I think you have covered the crux of the matter. The priorities to be funded, that is where to look. I too is of the opinion large budgets themselves, ---stimulating the economy by government expenditure, is not necessarily a bad thing. But in the specific case of Kenya, anno 2013, I shudder in trepidation at the wastefulness. Our bureaucracy is 'mandarin', or 'ottoman', that is a dead weight stifling dynamism and drowing the nation in debt. It is too expansive as has been recognised by the president himself in his assertion of 'unsustainable'! Fin-sec Rotich has failed to define a valuation of labour which justifies the INCOME DISPARITIES he will maintain, funded by the public. So he will be taxing daily bread to pay MPigs their 5M car-loans and 5K/hour sitting allowances to do the job they are already paid to do! Parliament having united to stare down the government there is not much he really can do other than make the best of it. He now has to tax into starvation, the urban semi-employed who are already poorly living on their wits, barely above destitution. I think he is pushing it . Few people on this blog will know, that in hawking class areas of Kayole and other such like, 'inner shops' do not sell for instance a quarter kilo Sugar, but they sell by the spoon. Cooking fat too. ---If the hawker made enough that day, he affords these for the day. Tomorrow is another day. He has no cash base to buy bulk, where bulk is 1/4kg Sugar, a whole kibiriti, or a minimal weight cooking fat. Ready made mini-dish of githeri may just be the most economic option. This --[single hawking male]-- is a the profile of a substantial portion of the urban tax-base Rotich is aiming to collect his revenues from! Skeleton. When you hear most Kenyans are employed in the INFORMAL SECTOR, that is a euphemism. They hardly make a full meal a day!
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Post by jakaswanga on Jun 14, 2013 19:58:45 GMT 3
A 1.5% Railway levy on all imports is a step in the right direction as previously rail has been paying road levy which goes to improve the competitor.As for the other sectors iam yet to go through the budget proposal to come up with informed comments.The levy will go along way in improving the railway infrastructure. Yes, rails have to be funded somehow. But when you get to know that large tracts of urban land that belonged to EAR were grabbed by individuals at a penny, then you wonder if the Company does not first owe us a full historical edit. ---In Nairobi alone these guys owned Ngara, Makongeni, Ofafa, the golf-course behind the Railway station. Guys owned whole tracts in urban areas prime land! Then there is that former General Uhuru Kenyatta made chair of the defunct company who even bankrupted the remnants further! I mean it is good to know where we went wrong before we start more Harambees to fatten thieves!
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Post by jakaswanga on Jun 14, 2013 20:11:48 GMT 3
I am trying my best to be a 'positivo'! Rotich is from the best university in the world! he knows what he is doing! he is a safe pair of hands! ---He is our great hope, our Andrea Chilulu who got a disease called degree after reading all the whitemans books and transferring all the knowledge to his head, bringing it home, and now will transform our world! Never has a character cut Rotich more slack than yours truly! It is just that all this talk of taxing unga, maziwa, beans and mchele ---which even as they are now are only christmas-time visibilities in many households, gets to my nerves and reminds me of the 'colonial hut tax'! Predatory taxation by a cannibalistic body politic! But I trust in Henry! Herculean he will be! I feel for you, buddy. I just noticed that the deal on Senator is not as good as for the consumer as my man initially told me. Take my good and free advice: stick to the chang'aa and busaa at Mama Mboga's, and leave Senator to MPs and others who are raking it in. "unga, maziwa, beans and mchele"? That's too basic. Too 20th century. Get diggy digital! Otishotish, I think I am going to have a heart attack today. Two reasons. That word DONOR FUNDS! 1. Uganda of M7 is introducing a 10% levy on all money transfers ---mobile and international, to raise funds to cover a budgetary gap, after DONORS AND GRANT SOURCES refused to come through... citing 'undemocratic misdemeanors'. How can a man stand at the AU summit in Addis Ababa and rail and 'hail' insults at Donor lands, while these are the hands that feed him? That is a two year old baby threatening to go on strike, refusing 'nyonyo' [titi milk] one second, and cying for it the next! 2. Henry Richard Rotich, blue-eyed Kenyan financial secretary, TOO, is expecting DONOR FUNDS to help him out with his huge deficit. These donor funds are in the rule WESTERN. But those are the guys Uhuruto made a killing telling to go to hell! Pan-africanism you remember?? What happened? we have no memory? I am having a heart attack, because if I don't, only contempt for these creatures will I ever have. I think it is reasonable for adults to know: If you denounce the West today as imperialist, then going to beg there the next day has a smell of total subhumanity, shameless inferiority of mind: mindlessness.An adult should not tell another adult: 'fwak you! drop dead and go to hell!' only to turn around the next minute and say: 'hey buddy, got a tenna for me. I kinda hungry!'Kondoo kabisa!
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Post by mank on Jun 14, 2013 22:28:09 GMT 3
Jakaswanga, Abdulmote, Otishotish,
We have each voiced one major concern: that the plan on the table from the Fin Minister boils to taxing the common man's humble plate in part to sustain unjustifiable income transfers to busy buddies in the name of Mpigs. What I hope is that the proposed taxes to finance the plan will act as a call to every Kenyan (beside the Mpigs, of course) to stand up against the unearned money that these dishonourable people are slated.
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Post by OtishOtish on Jun 14, 2013 23:49:00 GMT 3
An adult should not tell another adult: 'fwak you! drop dead and go to hell!' only to turn around the next minute and say: 'hey buddy, got a tenna for me. I kinda hungry!'Kondoo kabisa! Take a look at Tough Man Kagame and how much of his government is funded by The Detesteds. Small wonder that when the latter coughed, he took a saw to the legs of his buddy, Bosco. We praise Tough Man Mugabe for standing up to the West, but from afar: not many are keen to move to Zimbabwe. And funnily enough, he doesn't know where East is. Speaking of which ... Kenya's (including Jukwaa's) we'll-just-turn-East have been awfully quiet since that little bit appeared about foreign donors not handing over money quickly enough. On another thread: A guy begs you for money saying he is desperate. You give him some. Instead of using it to buy seeds to plant, repair his house, buy medicine, clothe his children... he used it to by pangas and changaa, gets drunk, attacks his wife and children, ... Then the next week he is back again: I have no food, no medicine, my wife and children are injured, please lend me some more money. He keeps doing this week after week. When you question him about it he angrily responds that you should mind your own business and respect him as an equal. Really.
Read more: jukwaa.proboards.com/thread/8456#ixzz2WE2XhKePI had said it before, and I will say it again: Africans need to start taking care of Africa and Africans ... learn to first respect themselves and the continent. Ati independent and sovereign. Even at the level of individuals, one would not respect a person who cannot even respect himself or herself.
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Post by OtishOtish on Jun 15, 2013 0:32:04 GMT 3
What I hope is that the proposed taxes to finance the plan will act as a call to every Kenyan (beside the Mpigs, of course) to stand up against the unearned money that these dishonourable people are slated. With all that apathy? When I first heard of the Swine Protest at parliament buildings, I expected massive crowds to show up and send a strong message. Looking at the videos of the event, I could have, without spending too much time, counted the number of people involved. Major change in a place like Kenya will happen in one of two ways: (a) A guy like Moi shites on heads for long enough, until people decide they have had enough. That seems unlikely these days. Or (b) there is enough civic education all around, and Kenyans eventually learn to choose their leaders on a more sensible basis. March 2013 is not that long ago, and the very same people who are about to get it socked to them were lining up in the hot sun, for hours, to get their "our man" in. And when it comes to "our man", integrity, character, performance, solid development plans, etc. mean nothing. "unga, maziwa, beans and mchele"? What's wrong with cake? Choice have consequences. Which is just another way of stating what The Good Book has always told us: As you sow, so shall you reap.
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Post by jakaswanga on Jun 16, 2013 12:02:35 GMT 3
Well, the Kennedy-man has finally shown his hand. And it suspiciously looks like Njeru Githaes 1.4 ksh trillion of last year! I gues it is prepared by the same people, only now they have to patch up a larger recurrent expenditure hole. Dear citizens of our blog, to celebrate the ascension of Strong Omundu into full-fledged membership, an auspice which bequeathes tremendous and grave responsibilities (which must be borne 'bila corruption as Usongaman Musa Juma the late Benga star of Limpopo fame once sang), I have found it necessary to revisit this article from Pre-history. By pre-history I mean... in 1995 when Bill Clinton was the POTUS and Alan Greenspan the Chairman of the FED, half the members of Jukwaa were not yet concievable, in the sense that their parents had not yet matched in the love market. Yes, all of us are children of love-matches here! But the essay has a critical note that needs a second hearing, and more, especially in the light of the Jubilee budget, and the political constellation of current Kenya. That is our 'liberalist, monetarist consensus' as regards economic policy.HERE: www.theatlantic.com/past/politics/ecbig/gdp.htmAfrican countries like Angola, Sudan, Ghana, Rwanda, Sumbiji, KUT [EAC], are now the tiger economies of the world. They have the future. Registering growth rates of 7-10% and set to be maintained. Astronomical leaps compared to other continents. Honestly while I am thrilled, I am more than a bit nervous about this narrative. That is why I have been visiting OLD LIBRARIES, to see what the ancestors, through beads and gourds , may have to whisper to us, about THE WAY WE CONDUCT OUR MEASUREMENTS. Something we overlook in our 'trip' perhaps? or am drowning in waragi blues, aggravated by withdrawal symptoms? But let us follow this hundhwe ywakne rach from the USA, citadel of modern capitalism. [ Hundhwe is a bird whose cry may be the harbinger of a 'dip' in fortunes.] Two Hawks ride the sky with their talons primed That pidgeon delivering a meal back to the nest What do the omens say about who will be the meal? Who be the Teiresias to interpret the will of Heaven?You guessed it! I was thinking Kenya's current fin-sec Henry Rotich, was at that time earning his econometric doctorate at the Kennedy School near Boston. He could not possibly have missed this PARADOX! So he will not be surprised to hear that, even as the macro and micro economic indicators in his model read 'ALL CLEAR SAFE JOURNEY', there could be a disconnect with those looking outside the window, and seeing themselves sinking to the bottom! And I always remember the boom as Greece prepared to host the centenary Olympics rht.gmu.edu/assets/docs/RHT/Working%20Paper%20THE%20SCARECROW%20(Georgiakis%20Nauright).pdfwww.theatlantic.com/past/politics/ecbig/gdp.htm There has been a barrage of congratulations toward Dr. Henry Rotich's trillion budget. But forgive me friends for my penchant for precedents ---that is the curse of having a memory that performs its task! So I paraphrase: President Uhuru Kenyatta will have his PR-team go on the road to persuade Kenyans their impoverishment is an illusion, and the indicators [6% growth] are right. Just count your money and see, fellow mwananchi.PART TWO But first, John Ruskin: en.wikipedia.org/wiki/John_RuskinJOHN RUSKIN: An economy produces "illth" as well as wealth. www.theatlantic.com/past/politics/ecbig/gdp.htmPerhaps these ' feel bad' factors which the propaganda offensive of Bill Clinton and the DP could not subdue, explains the [inconvenient] loss of Al-Gore to Georgis Dubya Bush --rather than electoral theft in Florida? I wholesomely recommend a total reading of this article in the ATLANTIC. Personally I was alerted to it when I was asking around for an alternative view WHY GEORGE BUSH, a Texan Cowboy with barely a going knowledge of english, was cruising past PROFESSOR AL GORE in the polls. I could not believe it was all due to evil Karl Rove. Even genius has its limitations in reality. Clinton had famously said -- it is the economy stupid! Could anything have changed really?I am only asking that we ask crucial questions about our land, in this case, the premises upon which these budgets read by supermen are based. Dream team Kibaki, Saitoti, Gikonyo Kiano, and now the Kennedy superstar Rotich. But when supermen do not achieve super results in super time, a guy like me spreads his bets. I visit a few tombs of my ancestors, strip naked, lie on the grave and cajole them mystic incatations to whisper me a word of wisdom, in exchange for a broken kola-nut and waragi-full bottle. You give me half a grain prophesy, next time I bring champagne, is the way I blackmale the inhabitants of Hades!NB: When the IMF came with its stupid, 'kill the patient' concoctions to Malaysia's crisis, Dr. Mohammed Mahathir and his team of economists had the audacity, intellectual wherewithal and grit, to reject the rubbish and think out their own workbale solutions. And all came to pass! No nobel prize mention though! By hindsight we can chuckle, since I heard a rumour Malaysia, having taken off regardless, is one of the stops the perfumed Chritine Lagarde did, to beg for re-embursements into the IMF kitty! So if it pleases me, I could run Henry Rotich through the Mahathir prism and see what colours I get! How to shift the economic center of gravity; how to steer it toward take-off. Industrialisation as President Uhuru Kenyatta says, is the golden egg our golden goose of a budget must accomplish. O fates! O heavens! what waylays me the morrow with? (Thim iye lich wuoth iye tek! yawa, medauru kong'o!)
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Post by jakaswanga on May 21, 2014 20:34:40 GMT 3
IN THE SHADOWS OF THE RUN TOWARD THE PROPOSED 2015 BUDGET.I really get nervous when Ministers of Finance do not have an idea from where they are gonna get the money to fund their grandiose programs. It means they will author many supplementary budgets and negotiate emergency debts/loans. That is, the DESPERATE treasury will fall prey to INTER- or NATIONAL LOAN SHARKS. (With the President being a major player in lending business and running for re-election, not to mention recovering from the last one, I am ready to think things! and more things!)But.. Mr. Kenyatta and Dr. Rotich, apparently placing super hopes on the Eurobond launch and subsequent success, have factored in the remunerations from that sale! –God forbid it flops and the magic stalls! But more dangerously, Mr. Kenyatta and his treasury are already scared sh!tless, and in theft like stealth, paid up the ANGLO-LEASING FRAUD, because some tough guy gave them an mean look and, chewing tobacco and spitting on his excellency’s face, said: pay up, wretch, or watch me freeze all your foreign accounts. Then all the circumcised men up there in charge of Kenya, urinated in their pants and paid pronto ---bypassing the parliament! Unless of course it is a question of the kickback and bonus that was dangled before their eyes! But I prefer the former explanation: Independence as a quandary hounded by blood thirsty debt collectors, cornered and found witless!And therefor surrendered. Haha! bypassing the parliament! Where are the guys who like to quote law, and profess its clarity!? Me? I know the sovereign can suspend/bypass the constitution when the national interest is threatened, and of course as His Excellency, he be the only one possessed of the insight to decipher what we all, hapless blind creatures, have no hope in hell of ever fathoming! --then it is treason to question the decision of such an Almigthy and divine being!! Well, here are some Treasury Blues! I like Rotich’s nerve at the gambling table. What I hate is that it is not his money and future he is gambling with! But that of all the country! RE-SCHEDULED LOAN REPAYMENT www.nation.co.ke/business/Kenya-May-Reschedule-Payment-of--600-Million-Syndicated-Loan/-/996/2313256/-/tg1h0a/-/index.html And And 2. www.nation.co.ke/business/Treasury-said-to-snub-experts-on-budget/-/996/2316190/-/4egeksz/-/index.html NO details?And the last detail I have in mind is: During the celebration of the Chinese monies brought to Nairobi by the Oriental Santa Claus who recently did our town, the treasury and Rotich refused to break down the loans. ---Commercial, Syndicated, maturity dates, typesof interest rates, or, wait for it, sub-set clauses which will be, on dispute, arbitrated by foreign courts which, as we have seen, posses the power to scare the living daylights out of Our Excellency’s mind! We rather pay thieves out, than feed our citizens –10 died of hunger in Baringo yesterday. Yes, raha tutapata na ustawi, but justice be found… well, that will be outside our borders … methinks! www.standardmedia.co.ke/mobile/?articleID=2000110939&story_title=how-treasury-plans-to-fund-ambitious-budget
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Post by OtishOtish on May 21, 2014 23:08:22 GMT 3
And the last detail I have in mind is: During the celebration of the Chinese monies brought to Nairobi by the Oriental Santa Claus who recently did our town, the treasury and Rotich refused to break down the loans. ---Commercial, Syndicated, maturity dates, types of interest rates, or, wait for it, sub-set clauses which will be, on dispute, arbitrated by foreign courts which, as we have seen, posses the power to scare the living daylights out of Our Excellency’s mind! We rather pay thieves out, than feed our citizens –10 died of hunger in Baringo yesterday. And here I was thinking, on the basis of the sheeple nearly going insane with delight, that yuan was coming down on Kenya like rain in a monsoon ... But maybe people are confused about the direction of flow. Take a look at this statement by Ndugu Kamale: "Is it possible that these powers are green with envy at the largesse the chinese seem to be enjoying in Kenya?"Read more: jukwaa.proboards.com/thread/9031/travel-advisories-facing-east-policy#ixzz32NgGLHMzSee what I mean by direction of flow? Never mind ... Reading the budget story, let us conclude that the " these powers" are green with envy solely on the basis of the sheer size of the Kenyan budget and how it will make Kenya into an industrial power that will be competing with them. The food situation is interesting. USAID's Famine Early Warning System (FEWS) has for sometime been warning Kenya to close monitor the food situation, but it is not clear that anyone has really been listening. Still, in defense of the government of Kenya, it must be admitted that FEWS is actually a large spy-network that supports activities required to overthrow legitimate governments. What's more, a small blip did register somewhere on the government's screen: about a couple of months ago your CS for Agriculture warned that things did not look good and underscored the importance of getting "development partners" to understand this and hand over more money. Things must have improved, given that he has not had anything else to say on the matter. I can buy stories about starvation in, say, the North-East. But Baringo??? It that must be Western propaganda, planted by their representatives in Kenya's "Evil Society". It is that same lot that a last week produced some story about a guy Baringo going to look for his cat and finding, next door, only the tail and some bones, with the neighbors looking rather more cheerful than they'd been for a while. Then there's the story of the Baringo senator, one Gideon Moi, appealing to "well-wishers" and the World Food Programme to come save his people: mobile.nation.co.ke/news/Moi-appeals-for-Baringo-hungry/-/1950946/2318388/-/format/xhtml/-/3pctsuz/-/index.htmlThat the story is a plant can be determined quite easily. First, the Rift Valley is the bread-basket of Kenya; that's what I've always been told. So how could anybody be starving there or anywhere near there? Impossible. Second, if there were indeed people starving in Baringo, wouldn't the Mois, spend just 0.00001% of their stolen money wealth to solve the problem? Another bogus story, this time tarnishing the good name of Mr. Moi. Anyways, best of luck with the Eurobond. But a word of advice: when the Treasury delegation arrives over there, perhaps they might slow down on the "fwack the imperialist, neo-colonialist West; we are going East!"
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Post by jakaswanga on Jun 14, 2018 21:15:18 GMT 3
THIS IS BUDGET DAY 2018: JUNE 14.
How far has the econometric whizzkid from the Kerio faired in his figures-juggling at the treasury!? Steady as she goes, he hasn't been sacked. But first the bad news Christin Lagarde thus, our godess of The Treasury!
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Post by jakaswanga on Jun 14, 2018 21:26:09 GMT 3
EAC BUDGETS 2018/2019 ($ Billion)The budgets were presented by finance ministers on June 14, 2018. Kenya: 2018/2019 ksh. 3trn. (30bn, up from ksh.2.6trn, $2.6bn) Tanzania: $14.3bn up from $14bn 2017/18 Uganda: $8.5bn up from $7.5Rwanda: $2.8bn up from $2.4bn. www.theeastafrican.co.ke/business/EAC-states-budget-2018-2019-highlights/2560-4612386-cwebfi/index.htmlKENYA Economy expected to grow by at least 5.8 per cent this year. Fiscal deficit projected to narrow to 5.7 per cent of GDP from estimated 7.2 per cent of GDP in the current financial year. The deficit to be financed by external debt ($2.97b) and domestic debt ($2.72b). Proposed amendment of Employment Act to provide that employers contribute 7.5 per cent for housing while employees to give 0.5 per cent from their pay. Import duty on iron ore and steel, paper and paper products increased from 25 per cent to 35 per cent. The increase is meant to make local products more competitive. Excise duty on private vehicles above 2500cc diesel and 3000cc petrol goes up from 20 per cent to 30 per cent to promote local assembly. Tax on mobile money transfer charges increases from 10 per cent to 12 per cent, proceeds to fund universal health care. Money transactions of $5,000 and above through financial institutions to attract a 0.05 per cent 'Robin Hood' tax. TANZANIA Economy expected to grow by at least 7.2 per cent this year. Budget deficit projected to be 3.2 per cent of GDP in 2018/19 compared to the likely outturn of 2.1 per cent in 2017/18. Tax on sanitary pads removed to make the product available and affordable to women and girls, particularly school girls and rural women. Proposed amendment of Income Tax Act to reduce corporate tax to 20 per cent from 30 per cent for new investors in pharmaceutical and leather industries for five years from 2018/19 up to 2022/23. Gaming taxes increased as follows: from 6 per cent to 10 per cent on gross sales in sports betting operations; from $14 to $44 per machine/month on slot machines; from 15 per cent to 18 per cent on gross gaming revenue for casinos. UGANDA Economy expected to grow by 5.8 per cent this year. Budget deficit projected to be 4.8 per cent of GDP this year. Total projected revenue is $4.3 billion with the revenue authority expected to collect $4.1 billion and the rest from non-tax sources. Domestic borrowing estimated at $464 million, donor support at $75 million, and external borrowing projected at $2 billion with $1.6 billion to be raised from loans and $412 million from grants.
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Post by jakaswanga on Jun 14, 2018 21:29:22 GMT 3
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