, 6 tweets, 3 min read Read on Twitter
Projected numbers are always rosy. Ignore them. Look at the ACTUALS. Treasury, in every budget, will tell Kenyans that the budget deficit is 5-6% & projected numbers will even go down further. But look at the ACTUALS. Almost hitting double digits. Disastrous! #BudgetKe2019
The deficit numbers are even worse than they look coz they do not include the PENDING BILLS. GoK budgets for a road, completes 25% of the road & the 75 % to complete that road is not budgeted for in the next FY. Why so many projects are incomplete. #BudgetKe2019
Rotich and the admin are obsessed with the revenue side during every budget. Tax Tax Tax. Yet the EXPENDITURE side keeps growing faster than the revenue side. No caps on expenditure. Look at the above report and see how expenditure is growing faster than revenues #BudgetKe2019
Budget may show that borrowing will slow down but if expenditure side will not also slow down, what does this mean? Again, PENDING BILLS. This has serious consequences for the economy & especially for financial stability & MSMEs. NPLs are at record high! #BudgetKe2019
What these guys need to do is to do a budget that puts us on a REVERSE GEAR re national debt. Use debt reduction to control expenditure. Plan to reduce debt by 200B each FY and work backwards. This will put breaks on EXPENDITURE side- better than even a debt ceiling #BudgetKe2019
Rotich & co will today divert the attention of Kenyans to Revenue matters (Taxes) & away from the real budget problems; Unsustainable Expenditures, an unsustainable debt & hidden expenditures in the form of pending bills. There is nothing exciting in what the CS will say today.
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