"Out of the Kshs. 846 Billion deficit, most of it will come from internal sources which are basically domestic borrowing and what this means is that the displacement effect of government borrowing on other private sector firms will continue ~ @IEAKwame #KEBudget2022_23
"The next parliament must insist on the presentation (Draft of the National Tax Policy) for discussion & conclusion & the reason for this is that the policy will clarify the merits & qualifications for the applications of taxes such as excise on goods & services ~@IEAKwame
Policy measures for economic recovery in #KEBudget2022_23 should have a keen focus on revenue growth and building of economic resilience due to increased risk exposures from external debt
Theme for #KEBudget2022_23 is "Accelerating Economic Recovery for Improved Livelihood", contextually apt but will it walk the talk??
Kenya’s economy is projected to rebound to 6.0 percent in 2021. The recovery in 2021 is on account of the reopening of the economy which is expected to increase economic activities and also partly reflects lower base of 2020 #KEBudget22_23
"The budget speech this year was underwhelming. Looking at the Finance Bill, which contains the tax code, it's so complex & imposes a great burden on firms, house holds & working people." @IEAKwame 👇🏿
The most profound issues that arise from this year's budget statement are on the revenue raising side & it's implications for Kenya's tax code. Four things stand out. #Followthread
1/4 It is clear that with a huge & growing burden of the public debt, the govt. also faces an acute shortage of revenues. The total debt redemption & interest payments account for more than half of the collections from the revenues mobilised through taxes.