Kenya Today

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EXPOSED: The 2018/2019 Budget Is A Dangerous Joke, Here Is Why

72 Comments

By Empraim Njega

I was recently surprised to see a 33 seater matatu struggling to fill up during the busy morning rush hour. A butchery that used to sell three goats in a day is struggling to sell one goat in three days. You can’t even get fresh apples in the market.

Our economy has struggled a lot in recent years. Instead of the government acknowledging and instituting remedial measures it has chosen to politic and engage in dangerous denial.

The upshot of all that will be eventual catastrophic economic collapse. Everyday that reality is getting closer. The current panicky tax proposals will accelerate the economic problems. You can’t tax your way out of an economic mess. Companies will flee to more competitive tax jurisdictions.

What is the logic of coming up with a KShs 2.53 trillion 2018/2019 budget while the government is struggling to raise KShs 1.44 trillion in tax revenues? This is a reckless joke.

It is time the economy received the attention it deserves. The so called githeri media should redeem their image by pushing the economic agenda to the apex of public debate.

Meanwhile:

This issue of County and National Governments failing to pay suppliers is very serious.

With bank’s non performing loans at KShs 277 billion the government must start paying its debts to suppliers.

It is unthinkable that the government is the one destabilizing the country’s financial system. If NPLs continue rising at the current pace soon bank’s will start going down with dire consequences on financial sector stability.

FINALLY
We were told that the economy was suffering due to politics. Yesterday I met a certain Jubilee follower. He says business is still down.

He complained about bad government policies that are throwing small business out of work. He says it is very dangerous for the country not to have an opposition.

I am still wondering about what I should have told him.

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