due to the recent claims that kenya as a country is heading the Greek way,we as the people who passed on the new constitution should have ourselves to blame,we moved from a bloated cabinet into demi gods in the name of governors,i suggested long ago to reconstitute our government structure,is it possible for us to do away with some of these posts???
what is the role of the senate compared to their expenditure???
how hard is it to have governors appointed by the president instead of being elective posts???
the above change would make the appointed governors royal to the president and not elective college hence reducing waste
if the jubilee government wont check its expenditure,am afraid that we are going to have international media visiting…
I raised this concern sometime back when the Greek economic problems hit a crescendo but economic gurus here assured me that Kenya was safe as most of our spending was for productive purposes… The situation is really dire and the government needs to take bold steps to step plunder of our country by checking spending on unrealistically high salaries in the public sector, wastage & corruption in the national & county govts, holding back unnecessary spending.
I repeat “the government should not be the employer of choice!!!”
In my view, there is nothing to really worry about. I think its just that KRA is not meeting its revenue projections, or the revenues are not streaming as fast as was projected. Probably, around december, revenue streams will be high enough to offset govt expenditures and repay any debt obligations. That said, the only thing i think is good with these counties is that corruption has been devolved and this presented a good avenue for wealth redistribution, innitially it was the guys at the national govt who used to ‘eat’, now even that the local chokora can afford to buy me a bottle of fourth generation wine!!!
The Treasury is in the market for Sh20 billion at time when the government’s financial position is under scrutiny following delayed salary payments to some public servants.
Kenya will offer a one-year Treasury bond for up to Sh20 billion ($194.27 million) during its monthly auction on October 21,” Reuters quoted CBK on Monday.
Kenya has been paying higher yields on debt after short-term interest rates jumped to above 21 per cent last week on account of CBK activities in the market.
Government records shows that Treasury spent Sh132 billion to service its debt for the first quarter of the 2015/2016 financial year. “The bottom line is that they just don’t have the money, they have to get it even if it is at a high cost,” said an analyst who preferred anonymity.
The bond will be on sale until October 19, the central bank said, and the funds from the sale will be used for budgetary support.
Analysts have raised concern on whether central bank’s liquidity mop-ups to support the currency are raising borrowing rates.
We cannot always blame tribal bias for the kind of leadership we have currently. Remember UK made a good impression when he was Finance minister in Kibaki’s government, nigger even introduced austerity measures at a time when development expenditure was at 60% of our budget. The 10billion scandal turned out to be a genuine typo and the shilling meltdown back then coincided with the time his trial at the ICC started. Ruto on the other hand did a good job in Kilimo house.
In 2013 we simply picked the ‘best’ of an average bunch.
Look at the counties where we effectively have our tribesmen in power, they are not doing any better. I believe the issue is that we have AVERAGE individuals running for elective posts, the best brains with good intentions prefer to keep off politics.