₦airaland Forum

Dude we have some the best Economic Advisors one can assemble in Kenya.
Ruto has picked Kenya best brains.

Ruto has not increased any taxation.
We are going to seal loopholes - and grow taxes to 30B dollars.
We are using technology to grow revenues.
How does an economy less than 100B - generate 30B dollars in gov revenues - when VAT is 16 percent
Economy size of kenya all generate around 17-20 percent of GDP - except overcooked Nigeria doing 5-6 percent.

And I got news for you.

We are actually going to reduce taxes - so we can grow revenues. . There are things we will do - like cutting budget or salary - that appear callous - but they are things we wont do - like increasing taxes.

Like I told you we GOT BRAINS AT WORK

This is today.

President Ruto: " I have also instructed the treasury to have a tax review of all the taxes. There are some taxes we certainly are going to reduce in the coming budget. .."

President Ruto: "I have also instructed the treasury to have a tax review of all the taxes. There are some taxes we certainly are going to reduce in the coming budget..." pic.twitter.com/jGKbMy0UJ0

— Mwango Capital (@MwangoCapital) April 11, 2023

https://www.the-star.co.ke/news/realtime/2023-04-11-state-to-reduce-some-taxes-in-2023-24-budget-ruto/

Obaaderemi2:
You are obviously insane. So have your debts disappeared with your fake GDP growth? Your revenue is about to shrink unless you overburden poor little Indians with taxation. You have $75bn already which is bad for a country with a GDP less than$100bn. You better tighten your seatbelt, the ride is going to be rough.

Obaaderemi2:
You are obviously insane. So have your debts disappeared with your fake GDP growth? Your revenue is about to shrink unless you overburden poor little Indians with taxation. You have $75bn already which is bad for a country with a GDP less than$100bn. You better tighten your seatbelt, the ride is going to be rough.

It's actually up to 80 Billion dollars debt I believe.

Dont sweat raw or absolute figures. Debt increase. GDP increase
What is important debt to GDP.
We had reduced to 62 percent
But weakining Shs has added 300B KES more.
This one reason why Ghana is bankrupt - external debt is just very risky.
ONLY REASON NIGERIA IS NOT BANKRUPT - it borrows domestically
Every 1shs KES drops - we are adding billions of debt - automatically

External debt is good for fighting poverty (you dont overcrowd private lending) but also very risky (you can easily default if you currency weaken)
Nigeria has chosen to generate poverty and keep the goverment Ponzi scheme going.

Kenya I think we are back up to 65-67 percent debt to gdp - we didnt borrow nothing but suddenly our external debt has increased in KES terms.

The target is to bring it down to 55 percent.

Absolute figures are useless because GDP is growing.

GeneralDae:
It's actually up to 80 Billion dollars debt I believe.

Mkenya2019:
Dont sweat raw or absolute figures. Debt increase. GDP increase
What is important debt to GDP.
We had reduced to 62 percent
But weakining Shs has added 300B KES more.
This one reason why Ghana is bankrupt - external debt is just very risky.
ONLY REASON NIGERIA IS NOT BANKRUPT - it borrows domestically
Every 1shs KES drops - we are adding billions of debt - automatically

External debt is good for fighting poverty (you dont overcrowd private lending) but also very risky (you can easily default if you currency weaken)
Nigeria has chosen to generate poverty and keep the goverment Ponzi scheme going.

Kenya I think we are back up to 65-67 percent debt to gdp - we didnt borrow nothing but suddenly our external debt has increased in KES terms.

The target is to bring it down to 55 percent.

Absolute figures are useless because GDP is growing.

You're just mad

While a drop in the Ghanaian cedi led to a drop in our debt portfolio, in Kenya because of how idiotic you guys borrowed, it's been leading to a massive increase in your debt.

A substantial sum of Ghana external debt were denominated in cedis and sold of offshore investors.

It's just insane that Kenya even sold domestic debts in dollars and that is why your economy is suffering and broke.

Your govt is currently preparing the minds of Kenyans for more default in order to free up some money for recurrent expenditure.

The Kenyan economy has collapsed

Kenyan equity market is the worse performer in Africa..

Foreigners have really shipped out shit tons of money and left the sinking ship.

Kenyans have no where else to go but to sink with the ship

...

....

..

Just40:
You're just mad

While a drop in the Ghanaian cedi led to a drop in our debt portfolio, in Kenya because of how idiotic you guys borrowed, it's been leading to a massive increase in your debt.

A substantial sum of Ghana external debt were denominated in cedis and sold of offshore investors.

It's just insane that Kenya even sold domestic debts in dollars and that is why your economy is suffering and broke.

Your govt is currently preparing the minds of Kenyans for more default in order to free up some money for recurrent expenditure.

They already told kenyans to brace up for more salary delays. Nigeria even at her worst never owed federal workers. Signs of evil things to come in Kenya.

They borrowed massively like a rich African country forgetting nothing in their economy could sustain such levels of debt. Like a Concorde engine in a Volkswagen beetle.

Now that country is up in flames and Ruto is thinking of reducing salaries. The protests will soon start. The Raila Monday Monday protest is a small thing compared to what's coming.

Eastleigh.

Just40:
The Kenyan economy has collapsed

Kenyan equity market is the worse performer in Africa..

Foreigners have really shipped out shit tons of money and left the sinking ship.

Kenyans have no where else to go but to sink with the ship

Did we not warn them?

...

Just40:
The Kenyan economy has collapsed

Kenyan equity market is the worse performer in Africa..

Foreigners have really shipped out shit tons of money and left the sinking ship.

Kenyans have no where else to go but to sink with the ship

Funny thing is that due to Nigerian poor exchange rate disparity, foreigners are almost next to nil as well in Nigerian stock market but they were quickly replaced by local investors and we were one of the best performing stock markets in Africa in 2022 even until this year.

Obaaderemi2:
They already told kenyans to brace up for more salary delays. Nigeria even at her worst never owed federal workers. Signs of evil things to come in Kenya.

They borrowed massively like a rich African country forgetting nothing in their economy could sustain such levels of debt. Like a Concorde engine in a Volkswagen beetle.

Now that country is up in flames and Ruto is thinking of reducing salaries. The protests will soon start. The Raila Monday Monday protest is a small thing compared to what's coming.

Every economist who have been following the book knew from as far back as December that they will be defaulting on more debts.

Obaaderemi2:
Did we not warn them?

They don't seem to learn

Obaaderemi2:
They already told kenyans to brace up for more salary delays. Nigeria even at her worst never owed federal workers. Signs of evil things to come in Kenya.

They borrowed massively like a rich African country forgetting nothing in their economy could sustain such levels of debt. Like a Concorde engine in a Volkswagen beetle.

Now that country is up in flames and Ruto is thinking of reducing salaries. The protests will soon start. The Raila Monday Monday protest is a small thing compared to what's coming.

I have told the Kenyans to print money excessively as the only way to save themselves but that would be dangerous too because they may not be able to control the run away inflation and excess money supply given that their economy is not as dependent on local investors compared to that of Nigeria.

Their equity market for example performed poorly in 2022 in the absence of usual foreign inflows, this means if they print more shillings, the Kenyan economy may fail to balance out all the abundant shillings and you then have excess money supply and uncontrolled spiral inflation. It's a tough situation.

We can print money and spread poverty like Nigeria - as 80% of debt due is local debt to be paid in KES
But we are responsible
Ruto gov is Hustler gov - a pro-poor gov - and we want inclusive growth - and focus is on the very poor. Not middle class . Not rich.

As for Kenya equities - it been dead since kibaki left.

It one of Uhuru biggest failure - and the reason we have debt overhang

Kibaki regime built the equity market to extend it had never been seen in the world.

When safaricom went public - 1 million kenya plus bought shares - the AGM was held in national stadium - and online.

Kenya were participating in buying and selling share - now they buy and sell bets.

It a BIG problem that Ruto intend to solve. Kenyans will go back to Equities in millions, in gov debts in millions and in economy in millions.

Bringing kenyan millennials from betting in sports or cryptoshiet to betting in shares or equity is Ruto biggest headache. It must be done. It will be done.

Kibaki did it. We can do it. We can have world first million of investors in shares as kenyans are very brilliant and cooperative people who invest in shares or equity in daily basis.

GeneralDae:
I have told the Kenyans to print money excessively as the only way to save themselves but that would be dangerous too because they may not be able to control the run away inflation and excess money supply given that their economy is not as dependent on local investors compared to that of Nigeria.

Their equity market for example performed poorly in 2022 in the absence of usual foreign inflows, this means if they print more shillings, the Kenyan economy may fail to balance out all the abundant shillings and you then have excess money supply and uncontrolled spiral inflation. It's a tough situation.

GeneralDae:
I have told the Kenyans to print money excessively as the only way to save themselves but that would be dangerous too because they may not be able to control the run away inflation and excess money supply given that their economy is not as dependent on local investors compared to that of Nigeria.

Their equity market for example performed poorly in 2022 in the absence of usual foreign inflows, this means if they print more shillings, the Kenyan economy may fail to balance out all the abundant shillings and you then have excess money supply and uncontrolled spiral inflation. It's a tough situation.

Ruto will never take the route of printing more money, unless his back is against the wall. Printing more money will send the Kenyan economy into a tailspin. The economy is too small.

Another option is for him to borrow more but not many lenders are interested in Kenya at the moment. The third option is to squeeze little Indians dry with taxation. None of these options is palatable. The drought is another thing killing Kenya slowly. Kenya will default soon and keep owing salaries. Ruto has failed, but it wasn't his fault. He was handed a time bomb by the drunkard. When we were warning them, mkenya kept talking trash and the other kenyans kept saying he was teaching economic sense. There must indeed be a lot of mkenyas in the Kenyan government.

Breaking News...

IMF rates Nigerian economy as the most stable in the continent of Africa.

You're funny
Kenya can actually print it way out of trouble as most of maturing debt are 80% local debt in KES
Ruto will do almost opposite of what you say.
He will make Kenyans PAY for their mistakes
Budget will be cut. Salaries cut. Name it
We will do what IMF would do.
And emerge from the hole faster.
As our own austrity measures are borne out of "love" than ulterior IMF motive where Ghana has to accept LGBT

Obaaderemi2:
Ruto will never take the route of printing more money, unless his back is against the wall. Printing more money will send the Kenyan economy into a tailspin. The economy is too small.

Another option is for him to borrow more but not many lenders are interested in Kenya at the moment. The third option is to squeeze little Indians dry with taxation. None of these options is palatable. The drought is another thing killing Kenya slowly. Kenya will default soon and keep owing salaries. Ruto has failed, but it wasn't his fault. He was handed a time bomb by the drunkard. When we were warning them, mkenya kept talking trash and the other kenyans kept saying he was teaching economic sense. There must indeed be a lot of mkenyas in the Kenyan government.

link would suffice - we are still in April fools days prank zon

GeneralDae:
Breaking News...

IMF rates Nigerian economy as the most stable in the continent of Africa.

GeneralDae:
I have told the Kenyans to print money excessively as the only way to save themselves but that would be dangerous too because they may not be able to control the run away inflation and excess money supply given that their economy is not as dependent on local investors compared to that of Nigeria.

Their equity market for example performed poorly in 2022 in the absence of usual foreign inflows, this means if they print more shillings, the Kenyan economy may fail to balance out all the abundant shillings and you then have excess money supply and uncontrolled spiral inflation. It's a tough situation.

only those who understands economic will understand how hard the situation is in Kenya.
You're spot on

Unfortunately Kenya cannot print because the IMF is running their economy at the moment

Mkenya2019:
You're funny
Kenya can actually print it way out of trouble as most of maturing debt are 80% local debt in KES
Ruto will do almost opposite of what you say.
He will make Kenyans PAY for their mistakes
Budget will be cut. Salaries cut. Name it
We will do what IMF would do.
And emerge from the hole faster.
As our own austrity measures are borne out of "love" than ulterior IMF motive where Ghana has to accept LGBT

If you read the Ghanaian anti LGBT bill in parliament, you won't quote your last statement again

You think Ghana is a hopeless country like Kenya er?

They'll succeed in forcing Kenya to accept it but not Ghana because we've got balls

Just40:
Every economist who have been following the book knew from as far back as December that they will be defaulting on more debts.

It doesn't look good at All. Let's see which way the cat jumps for Kenya. But it's woeful already if they can't pay salaries and have to go to Tanzania for dollars.

Mkenya2019:
You're funny
Kenya can actually print it way out of trouble as most of maturing debt are 80% local debt in KES
Ruto will do almost opposite of what you say.
He will make Kenyans PAY for their mistakes
Budget will be cut. Salaries cut. Name it
We will do what IMF would do.
And emerge from the hole faster.
As our own austrity measures are borne out of "love" than ulterior IMF motive where Ghana has to accept LGBT

I support budget cuts and reducing cost of operation. The only problem is that by the time Kenyans are paying for their mistakes, projects would not be continuous as they should be and that would affect growth on the long run.

So in addition to budget cuts and all that, you may have to default like other countries in Africa have done to give yourselves breathing space and use the money for more projects.

Obaaderemi2:
It doesn't look good at All. Let's see which way the cat jumps for Kenya. But it's woeful already if they can't pay salaries and have to go to Tanzania for dollars.

Their govt have decided to join Sri Lanka in default... Ruto is now calming the waters before the disaster.

GeneralDae:
I support budget cuts and reducing cost of operation. The only problem is that by the time Kenyans are paying for their mistakes, projects would not be continuous as they should be and that would affect growth on the long run.

So in addition to budget cuts and all that, you may have to default like other countries in Africa have done to give yourselves breathing space and use the money for more projects.

Their govt have made the decision to default.
It's the only option for them now... Ruto wasn't smart enough.

They are now calming the waters to institute desperate decisions to prevent a Sri Lanka political outcome

West African type of projection

Kenya has a very small debt problem.
We are at 62 - now 65 percent debt to GDP.
Ideally we should be at 55 percent.
It just mere YEAR of correction
We are at nearly 60 percent servicing ratio
Ideally we should be at 30 percent.

Everything else is KOSHER.
Economy is 3rd fastest growing - after Senegal and Ivory Coast in big SSA economies
Inflation is peaked at 9 percent will drop to below 7 percent
Banks are lending at 13 percent per annum - or in Zoo 1 percent per month
Bla de bla.

We will solved our debt problem in 2024.

But dream, pray and name it - Kenya is Africa MOST resilient economy.

Never went under in 60s, 70s, 80s, 90s, 20s, name it

Maybe you only know about hunger striken kenyan desert

And first time you saw Nairobi you were taken a back.

GeneralDae:
I support budget cuts and reducing cost of operation. The only problem is that by the time Kenyans are paying for their mistakes, projects would not be continuous as they should be and that would affect growth on the long run.

So in addition to budget cuts and all that, you may have to default like other countries in Africa have done to give yourselves breathing space and use the money for more projects.

Obaaderemi2:
Ruto will never take the route of printing more money, unless his back is against the wall. Printing more money will send the Kenyan economy into a tailspin. The economy is too small.

Another option is for him to borrow more but not many lenders are interested in Kenya at the moment. The third option is to squeeze little Indians dry with taxation. None of these options is palatable. The drought is another thing killing Kenya slowly. Kenya will default soon and keep owing salaries. Ruto has failed, but it wasn't his fault. He was handed a time bomb by the drunkard. When we were warning them, mkenya kept talking trash and the other kenyans kept saying he was teaching economic sense. There must indeed be a lot of mkenyas in the Kenyan government.

It's actually his fault.

He had one job, if he had done it, Kenya wouldn't have gotten here

Mkenya2019:
link would suffice - we are still in April fools days prank zon

IMF SPRING MEETING IN WASHINGTON 2023.

No link yet, maybe tomorrow.

Just40:
It's actually his fault.

He had one job, if he had done it, Kenya wouldn't have gotten here

He has actually worsened the situation. He introduced new taxes and increased capital gains tax from 5% to 15% in January. Kenyans are angry with him already. He had to go on his knees for Raila to stop the biweekly protests because he knows they could spiral out of control. He can't pay salaries anymore and forex is scarce.

So Zambia is searching for just 188 million dollars from IMF? that's quiet low.