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Kwame Owino Profile picture
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Apr 7 • 6 tweets • 2 min read
Should GoK maintain the price stabilization fund for petroleum fuels beyond June 2022?
Should parliament approve the proposal by the @KeTreasury to raise the excise tax on Nicotine used in E-Cigarettes from Kshs. 1 to Kshs. 70 per mg?
Should parliament approve the proposal to impose an Excise Tax on imported eggs?
Does the proposal to changethe name of @KRACorporate to Kenya Revenue Service matter to taxpayers?
The statement presented today shows that GOK spending for the year will exceed the revenue collections by Kshs. 846 billion for the Finacial year starting on July 01, 2022. What is your view of the size of this deficit? #KEBudget2022_23
What do you think is the appropriate size of the budget deficit that parliament should aim for in the next financial year? #KEBudget2022_23

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More from @IEAKwame

Kwame Owino Profile picture
Apr 7
The total budget deficit is Kshs. 846B. This will be funded with Kshs. 260B from external and Kshs 583B from domestic borrowing. The borrowing training continues. #KEBudget2022_23 1/N
Exemption from VAT for pharmaceutical products. 2/N
Proposal to exampt inputs from VAT parts for the assembly of motor vehicles. 3/N
Read 21 tweets
Kwame Owino Profile picture
Apr 5
Folks, Kenyans may be bidding bye to a moderate tax country with sticky projects such as SGR, Superhighways to nowhere, and funds such as the stabilization fund for fuels. These projects make future claims to revenues and reduce budget flexibility. 1/N
These funds, including the fuel price Stabilization Fund, have some features that make them difficult to roll back. They create a dedicate cadre of bureaucrats who will always try to justify their existence and they are available for use in unauthorized ways. 2/N
And if a fund of billions of shillings exists, it is almost a medium bank size and has the level of opaqueness that the @OAG_Kenya revealed about the Fuel Price Stabilization fund, it takes a political act of bravery to get rid of it. 3/N
Read 7 tweets
Kwame Owino Profile picture
Apr 4
Folks, this is a simple matter. GoK manages the retail & wholesale prices of petroleum fuels through @EPRA_Ke formula. 1/N
In the last 6 months, global prices have been rising and GoK committed to keeping domestic retail prices lower by instituting the "Price Stabilization Fund". 2/N
That fund was established without a proper legal mechanism and this is among the issues that were raised in parliament last year. 3/N
Read 10 tweets
Kwame Owino Profile picture
Oct 12, 2021
Folks, this tweet will sound harsh but the intention is to show the cluelessness among those "posh & serious" whose refrain is that county governments have received so much money and have not rid country of poverty. 1/N
This chart below, drawn by @IEAKenya shows that all county governments are expected to receive a total of Kshs. 370 billion comprised of the equitable share and conditional grants. 2/N
So let's talk the numbers now. The total allocation available for county governments to spend in this financial year, is equivalent to ~Ksh. 7,500 per citizen. 3/N
Read 9 tweets
Kwame Owino Profile picture
Sep 15, 2021
Folks, what does one say when people decide to hold a demonstration to protest a change in petrol prices based on a formula which was passed in law and which EPRA cannot change? 1/N
Statists got the price control model that they demanded under the pretext that oil traders were price gouging. 2/N
Instead if appreciating the lesson that a price control model for an imported product will not help low income people, these statists are back here demanding "tightening' of the model. 3/N
Read 4 tweets
Kwame Owino Profile picture
Jul 14, 2021
Folks, I find it interesting how Kenya's press corps reports on the reforms agreement between GoK and the IMF as if the former was a victim being bullied.
I would respect any view that GoK shouldn't change anything and keep walking the journey of large deficits but to make it look like IMF burst in here and started to knock heads around is disingenuous.
What's the purpose of good policymaking when bureaucrats can spend money faster than a machine can print it, use it to buy overpriced and outdated toys for big men and then blame it all on IMF when the debt falls due?
Read 4 tweets

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