Leo Kemboi Profile picture
Apr 7 5 tweets 3 min read
Positive Take-Away from Budget Statement for Law & Economy

-The Judiciary Fund will be operationalized from 1st July 2022. #KeBudget2022_23 1/n
As per @KeTreasury conditions have been met including; the Judiciary Fund Act and
Regulations have been enacted; The Bank accounts for the Fund have been opened at the Central Bank of Kenya, and an appropriate budget for Judiciary has been created. 2/N
IFMIS has been enhanced to accommodate Judiciary Fund operations, and therefore the fund can be operational. 3/N
This was part of @IEAKenya's Law & Economy program submission on the budget from @JackyKagume & myself . Here is the link to the brief (ieakenya.or.ke/?wpdmdl=2351) for further reading.

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More from @LeoKemboi

Apr 7
National Treasury @KeTreasury projects revenue of Ksh 2.4 trillion putting the deficit at Ksh 846 Billion. PBO estimates Ksh 2.2 trillion. IEA estimates less than that. In short, Treasury is setting up Kenyans for a Ksh 1.2 trillion deficit. #KeBudget2022_23
The Fiscal Deficit will be covered through Ksh 260 Bn- External Borrowing, and the rest internal borrowing.
Locally Manufactured passenger motor vehicles exempted from Excise.T. #KeBudget2022_23
Read 8 tweets
Apr 7
One key fact to note is that the trendline of Kenya's economic growth and the revenue(% of GDP) continues to decline over the last 12 years. #KeBudget22_23
PBO estimates that debt solvency indicators (PV of Public debt revenue and grants ratio & PV of PPG External Debt-to exports ratio) breached in 2017 could be resolved as early as 2031. #KeBudget22_23
Exports continue to decline as shown by the Exports growth rate (%); 2012 – 2020, and this has implications for the compounding debt crisis. #KeBudget2022_23
Read 11 tweets

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