East African Budgets

[kshaka]

Since our budgets are now somewhat synchronised, I thought we could have a thread where we share information on what to expect in each country's budget and how they are going to affect us ordinary wananchi 🙂

 

[kshaka]

It appears that Uganda's last budget although quite optimistic was unable to meet expectation mostly due to inflation and a failure to manage interest rates. From what I understand in this video, it appears that business people are taking out loans not for capital expenditure but to pay loans, which is quite shocking...what is happening to their profits? If business' are using loans to pay taxes, how can they grow the economy? Does this give an advantage to KE and TZ investors in UG as they can get loans from their domestic banks at lower rates than Ugandans? Very interesting...

 

[kshaka]

This explains the above a bit further...it appears that Uganda needs to widen its tax base (rather than just increasing taxes). I wonder if they've worked out modalities on including the informal sectors in the tax base

 

[kshaka]

The Kenyan government has raised taxes as much as it possibly can without causing civil unrest and therefore, needs to come up with alternative revenue streams;

 

[kshaka]

Guys, what're the budgetary issues in TZ?

 

[kshaka]

I was being a bit too optimistic here, wasn't I? sawa basi, tuendelee na udaku na porojo! 🙂

 

[Delta4]

I was being a bit too optimistic here, wasn't I? sawa basi, tuendelee na udaku na porojo! 🙂

No you are not, Ndugu Kshaka. But it does appear that competitive dialogue based on facts is kidogo anathema on this site. I opened a Thread on the EAC 2012 Budget Statements last night, with a comparative chart that makes for interesting reading. No takers yet!! But I prod still. Here it is below - care to comment?

EAC member countries 2012 Budgetary Statements - Raw Stats.

Here are the raw statistics; develop some extrapolations for yourself - you can share with the rest of us too if you are kind enough to.

''Kenya, Uganda, Tanzania and Rwanda raised their combined spending from $26.6 billion in the current financial year to $32 billion in budget spending plans released concurrently by the bloc's finance ministers.

Kenya's total budget stands at $16 billion, up from $12.9 billion = an increase of $3.1 Billion (nearly equal to the total of Uganda 2012 Budget!)

Uganda is $4.4 billion compared to last year's $3.6 billion. = an increase of $1.2 Billion

Tanzania will spend TSh15 trillion (9.5 billion), a rise from Tsh13 trillion ($8.2 billion) = an increase of a mere $1.3 Billion

Rwanda's Rwf 1.3 trillion ($2.3 billion), up from Rwf 1.1 trillion ($1.9 billion) in 2011.'' = an increase of $400Million
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