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Leo Kemboi Profile picture
Leo Kemboi
@LeoKemboi
Economist @IEAKenya . Mechanism Design. Nothing should limit Imagination of an Economist. “All learning is ultimately self-learning- Milton Friedman”
Jul 9 • 17 tweets • 7 min read
In this thread, I will give an overview of Key findings by the Auditor General on the Audit of Public Debt. Let start with the latest report dated June 2024 1/ Image On the audit of External Loans, the Auditor General finds there was inadequate loan contracting processes. some loans had not undergone Loan Appraisal, Public Participation, few had project approvals, no documents on loan negotiations amongst other issues. 2/
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Apr 7, 2022 • 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
Apr 7, 2022 • 8 tweets • 3 min read
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.
Apr 7, 2022 • 11 tweets • 7 min read
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