hisah wrote:
]As for KE's heavy budget, my biggest concern is the trade deficit with a weak currency. Foreign debt will balloon badly. Inflation and high interest rates will keep squeezing the economy and tax revenues. Also the recurrent domestic expenditure needs to be trimmed[/i].
I concur.
Our govt needs serious lessons on frugality/ austerity to reduce doemstic expenditure -for example those nasty sh*tty commissions of this and that that keep gobbling funds aimlessly and dont deliver at all. And all those ministries!!
One other very sad aspect of the KShs 1.4T budget however, is that >70% is for meeting recurrent expenditure like salaries and admin. costs rather than for capex programmes. We surely need to change this structure - can't all those Treasury mandarins surely see this?!
@ murchr - They can afford them much easily in future rather than now because public revenue is expected to double in 10-15 yrs, but not now and thats why they have a huge BoP deficit.
7 yrs after Ug discovered oil, it is still not being exploited. Then again one can argue M7 is merely discounting future expected petro cashflows.