Kenya budget larger than rest of EAC combined
- Thread starter Nairoberry
- Start date
Democracy999
JF-Expert Member
- May 26, 2012
- 945
- 189
Tusidanganyane kwa rate ya change ya Dollar, Kenyan budget is 13 Billion USD, hii ndio real, sasa wewe unaweza ukabidili hiyo Shilingi kwa inayokufurahisha tu.
Kabaridi
JF-Expert Member
- Nov 15, 2011
- 2,023
- 534
Our good fellow, I am starting to doubt your commitment as per whether you know what you are actually talking about. This is your usual decoy that you are trying to cover our eyes. You have for long benefited from extensive debt relief from donors. HIPC and MDRI debt relief reduced Tanzania's debt burden sharply to US$3.4 billion, or 20.6. Public domestic debt stood at TSh 3.96 trillion (13.1 percent of GDP) at end-June 2010.
Tanzania
External Debt (USD, Million) 6,558.3 ($6.5bn)
Domestic Debt 2841.7($0.2bn)
Multilateral Debt 4,204.8 ($4.2bn
Bilateral Debt 955.4
Commercial Debt 815.2
Other 582.9
Source of debt repayment = massive debt cancellation through extensive debt relief programs
Kenya debt
domestic debt ksh 653.85 billion ($7bn)
external debt 533.46 billion. ($6.5bn)
Source of debt repayment = widening of tax base and strengthening local revenue collection
source: here and here
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 59,208
- 79,447
Business
[h=1]Can Kenya govt break pattern of the past to spend $17b?[/h]
Against a budget of Ksh1.1 trillion ($13 billion) and the impetus of Vision 2030 flagship projects, GDP growth still slowed to 4.4 per cent over the last year. Erratic weather conditions, escalating oil prices and the weakening of the shilling are all to blame.
Still, the nature of our economic development - particularly within the context of Vision 2030 investments - is that it is supply-driven. Government expenditure drives growth and so Kenyans can reasonably ask, "Did the government spend Ksh1.1 trillion ($13 billion) last year and did the economy feel the impact?" We are skeptical.
Close to 60 per cent of the development expenditure was not spent and this raises questions about the government's ability, to fully implement development projects. In our view, challenges like low implementation capacity, ‘no objection' donor bureaucracies and overly optimistic projections have led to low development budget execution.
This year's budget is no different. Of the Ksh1.46 trillion ($17 billion) budget, Ksh451 billion ($5.3 billion) has been set aside for development projects with 59 per cent targeting physical infrastructure. It makes good business sense for the government to invest in productive infrastructure; large allocations to roads, energy, an urban commuter rail, other transport, irrigation infrastructure and ICT all lay the groundwork for economic growth.
We have to spend money to make money and it is impossible to grow a healthy economy with shoddy infrastructure. That said, challenges remain regarding whether the government can spend the money it has allocated. It could enhance absorption through better procurement planning and private sector partnerships at the planning and implementation stages.
Agriculture contributes 24 per cent to GDP and yet it grew just 1.4 per cent in 2011. Irrigation investments last year did not sufficiently buffer the sector from erratic weather conditions.
This year's budget allocates an additional Ksh8 billion ($95 million) to irrigation and another Ksh1 billion ($11.9 billion) to the Agribusiness Fund. Little was said about improving information and technology transfer at the rural smallholder level or efforts to strengthen markets, encourage crop diversification or improve soil nutrient management.
Unemployment is still worrisome with relatively few (74,000) new jobs created in the formal sector over the year. For the past four years, there has been little change in job growth trends despite ongoing investment and growth in the education sector. This year, the Budget allocates a record Ksh233 billion ($2.7 billion) to education and another Ksh85 billion ($1 billion) to health. The right skills and readiness for employment will spur economic growth in Kenya - but only if there are jobs to fill.
On the other hand, financial services continued to expand impressively and the Budget identifies a number of sector reforms intended to address new service lines and developments. To the extent that these provide clarity and certainty for the sector, they are welcome.
The Budget is consistent with the Vision 2030 pillar of achieving economic and social equity. The business community needs to call government to account on allocation and spending. Our challenge is to ensure that there's a much higher level of execution of the development budget.
Kuria Muchiru is country senior partner for PwC Kenya.
http://www.theeastafrican.co.ke/bus...352/-/view/printVersion/-/aiipm9/-/index.html
[h=1]Can Kenya govt break pattern of the past to spend $17b?[/h]
Against a budget of Ksh1.1 trillion ($13 billion) and the impetus of Vision 2030 flagship projects, GDP growth still slowed to 4.4 per cent over the last year. Erratic weather conditions, escalating oil prices and the weakening of the shilling are all to blame.
Still, the nature of our economic development - particularly within the context of Vision 2030 investments - is that it is supply-driven. Government expenditure drives growth and so Kenyans can reasonably ask, "Did the government spend Ksh1.1 trillion ($13 billion) last year and did the economy feel the impact?" We are skeptical.
Close to 60 per cent of the development expenditure was not spent and this raises questions about the government's ability, to fully implement development projects. In our view, challenges like low implementation capacity, ‘no objection' donor bureaucracies and overly optimistic projections have led to low development budget execution.
This year's budget is no different. Of the Ksh1.46 trillion ($17 billion) budget, Ksh451 billion ($5.3 billion) has been set aside for development projects with 59 per cent targeting physical infrastructure. It makes good business sense for the government to invest in productive infrastructure; large allocations to roads, energy, an urban commuter rail, other transport, irrigation infrastructure and ICT all lay the groundwork for economic growth.
We have to spend money to make money and it is impossible to grow a healthy economy with shoddy infrastructure. That said, challenges remain regarding whether the government can spend the money it has allocated. It could enhance absorption through better procurement planning and private sector partnerships at the planning and implementation stages.
Agriculture contributes 24 per cent to GDP and yet it grew just 1.4 per cent in 2011. Irrigation investments last year did not sufficiently buffer the sector from erratic weather conditions.
This year's budget allocates an additional Ksh8 billion ($95 million) to irrigation and another Ksh1 billion ($11.9 billion) to the Agribusiness Fund. Little was said about improving information and technology transfer at the rural smallholder level or efforts to strengthen markets, encourage crop diversification or improve soil nutrient management.
Unemployment is still worrisome with relatively few (74,000) new jobs created in the formal sector over the year. For the past four years, there has been little change in job growth trends despite ongoing investment and growth in the education sector. This year, the Budget allocates a record Ksh233 billion ($2.7 billion) to education and another Ksh85 billion ($1 billion) to health. The right skills and readiness for employment will spur economic growth in Kenya - but only if there are jobs to fill.
On the other hand, financial services continued to expand impressively and the Budget identifies a number of sector reforms intended to address new service lines and developments. To the extent that these provide clarity and certainty for the sector, they are welcome.
The Budget is consistent with the Vision 2030 pillar of achieving economic and social equity. The business community needs to call government to account on allocation and spending. Our challenge is to ensure that there's a much higher level of execution of the development budget.
Kuria Muchiru is country senior partner for PwC Kenya.
http://www.theeastafrican.co.ke/bus...352/-/view/printVersion/-/aiipm9/-/index.html
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 59,208
- 79,447
Business
[h=1]Growth of Tanzania economy hinged on public-private partnerships[/h]
TANZANIA'S BUDGET for the coming fiscal year, which begins on July 1, was a welcome acknowledgement by the government of the difficulties that businesses face in Tanzania.
We've had severe energy supply constraints and power rationing. During the year, inflation ran high in Tanzania as it did across East Africa and a shortage of talent - an old issue here - contributed to concerns about how we will grow our companies and capacity in the months and years ahead. The budget includes measures to improve power supply in the medium term, to tame inflation and promote investments in targeted areas of human resource development.
One of the main issues that we face is something we can do little about: Tanzania is vast. Moving produce from agriculturally-productive areas to places where we have shortages is difficult. Our infrastructure is poor. Fortunately, this is something that we can work on and the Budget makes specific provisions for its improvement.
Other priority areas in the budget include increasing access to financial services and strengthening public-private partnerships. Businesses in Tanzania often make proposals that are sensible and that will help our economy but people in positions of power do not always see it that way. For us to work together and advance Tanzania's economy, we've got to build more trust between us.
The budget signals some progress towards building a stronger culture of trust. There is mention of collaboration with the private sector in agriculture and specific steps to improve the business environment with a key focus on local investors.
It's also important not to get too caught up in all of the problems that Tanzania faces. Our GDP grew 6.4 per cent in 2011, less than the 7 per cent growth we saw in 2010 but still respectable. The drop in growth was attributed to unreliable access to electricity, which we can do something about, and unfavourable weather and the cost of imported goods like fuel, which we cannot control. All the same, the budget offers some very positive guidance for strengthening Tanzania's economy so that it can better withstand some of the challenges that we face.
The budget seeks to support substantial increases in economic growth and to reduce inflation, as well as to improve domestic revenue collection. Several customs and excise tax changes will bring us into closer alignment with East African Community protocols. Businesses in Tanzania benefit from cross-border tax and regulatory harmonisation, as well as certainty and simplicity.
One major concern is whether the budget has done enough to generate employment for our growing population of college/university graduates and school leavers. It is clear that this is a big problem that cannot be fixed in one year and the best way to create employment opportunities is to encourage investment growth. To do so requires a stable and predictable business environment.
People in power must have the courage to take a long term view and avoid making decision that respond to political pressure. It is important to remember that Tanzania is not the only country with investment potential. The 2012/2013 budget shows that our voices have not gone unheard.
Leonard Mususa is country senior partner for PwC Tanzania
http://www.theeastafrican.co.ke/bus...58/-/view/printVersion/-/496c0pz/-/index.html
[h=1]Growth of Tanzania economy hinged on public-private partnerships[/h]
TANZANIA'S BUDGET for the coming fiscal year, which begins on July 1, was a welcome acknowledgement by the government of the difficulties that businesses face in Tanzania.
We've had severe energy supply constraints and power rationing. During the year, inflation ran high in Tanzania as it did across East Africa and a shortage of talent - an old issue here - contributed to concerns about how we will grow our companies and capacity in the months and years ahead. The budget includes measures to improve power supply in the medium term, to tame inflation and promote investments in targeted areas of human resource development.
One of the main issues that we face is something we can do little about: Tanzania is vast. Moving produce from agriculturally-productive areas to places where we have shortages is difficult. Our infrastructure is poor. Fortunately, this is something that we can work on and the Budget makes specific provisions for its improvement.
Other priority areas in the budget include increasing access to financial services and strengthening public-private partnerships. Businesses in Tanzania often make proposals that are sensible and that will help our economy but people in positions of power do not always see it that way. For us to work together and advance Tanzania's economy, we've got to build more trust between us.
The budget signals some progress towards building a stronger culture of trust. There is mention of collaboration with the private sector in agriculture and specific steps to improve the business environment with a key focus on local investors.
It's also important not to get too caught up in all of the problems that Tanzania faces. Our GDP grew 6.4 per cent in 2011, less than the 7 per cent growth we saw in 2010 but still respectable. The drop in growth was attributed to unreliable access to electricity, which we can do something about, and unfavourable weather and the cost of imported goods like fuel, which we cannot control. All the same, the budget offers some very positive guidance for strengthening Tanzania's economy so that it can better withstand some of the challenges that we face.
The budget seeks to support substantial increases in economic growth and to reduce inflation, as well as to improve domestic revenue collection. Several customs and excise tax changes will bring us into closer alignment with East African Community protocols. Businesses in Tanzania benefit from cross-border tax and regulatory harmonisation, as well as certainty and simplicity.
One major concern is whether the budget has done enough to generate employment for our growing population of college/university graduates and school leavers. It is clear that this is a big problem that cannot be fixed in one year and the best way to create employment opportunities is to encourage investment growth. To do so requires a stable and predictable business environment.
People in power must have the courage to take a long term view and avoid making decision that respond to political pressure. It is important to remember that Tanzania is not the only country with investment potential. The 2012/2013 budget shows that our voices have not gone unheard.
Leonard Mususa is country senior partner for PwC Tanzania
http://www.theeastafrican.co.ke/bus...58/-/view/printVersion/-/496c0pz/-/index.html
kshaka
JF-Expert Member
- Nov 3, 2011
- 366
- 118
If only Greece had managed its debt like Kenya, Europe would be in a much better shape today. Greece's debt would stand at 45 per cent of GDP, less than a third of what it actually is. Recent global economic history would need to be rewritten and Europe's sick nation would be a macro-economic success with the luxury of deciding how to spend its resources well, rather than scrambling to mobilise them.
Kenya is one of many African countries that have managed to bring down their debt to sustainable levels over the last 10 years. Many benefited from debt relief in the process, but Kenya's macro-economic success is home-made. In 2003, Kenya's debt stood at 60 per cent of GDP. Then, through prudent fiscal policies - particularly strong revenue mobilisation - and economic growth, it gradually brought the debt burden down to below 40 per cent of GDP by 2008. Back in this comfort zone, it was able to respond to the global financial crisis, the post-election violence and a severe drought with fiscal stimulus.
The amount of debt relief Kenya received (through rescheduling in the 1990s) was trivial compared with the "hair-cut" Greece has been receiving. According to the International Monetary Fund, Kenya is on track to return to the 40 per cent mark within the next two to three years.
Debt dynamics are a key driver of global economic change over the last decade. A look at the G20 countries, which just met at their annual summit in Los Carbos, tells the story well.
In 2000, the debt of the richest economist (G7) amounted to 68 per cent of their cumulated GDP. Back then, emerging economies the other 13 members of the G20) were doing better, with debt at 49 per cent. Since then, the gap widened enormously. The advanced economies' debt increased to 110 per cent, while emerging economies reduced theirs further to 36 per cent.
The EU remains the world's largest economic bloc but prospects are grim. Disintegration of the euro could herald a replay of the Great Depression and an unravelling of the union. Who would have thought, a decade ago, that many poor African countries, lambasted for their corruption, could teach Europe a lesson in macro-economics? In the eurozone, only Estonia and Luxemburg can boast lower debt-to-GDP ratios than Kenya.
Time to pop the champagne (or a good Tusker) and open the spending tap? Not so soon. Reducing debt levels is a painful and long process. And upward pressure can build up quickly, especially if the government suddenly has to bail out banks or if growth collapses, while fiscal deficits continue to increase. Economic health is like physical fitness: you have to build it when it is good, afterwards it is too late. If the economy is healthy you are in a much better position to manage a crisis when it hits you.
Kenya still has many vulnerabilities which may well increase in coming years. Contingent liabilities are a good example. Kenya's large current account deficit could yet again trigger a decline of the shilling translating mechanically in higher debt (which is largely dollar denominated).
In 2013, Kenya will also need to find additional resources to manage the elections and the needs of county governments. So let us reverse the question: What can Kenya learn from Europe's woes and global experience? Three key lessons stand out. First, spend money wisely even - and especially - when times are good. Keep fiscal deficits under control and invest in sectors that grow your economy. In short, build buffers while you can, so they can be drawn upon when a shock occurs. Second, when a crisis does hit you, stay the course on growing the economy through structural reforms. What matters is not the absolute amount of debt, but its proportion to the overall economy. Greece's debt is not monumental, and spending is (now) under control; but it is dramatic because the economy is shrinking rapidly. No country has ever escaped a debt crisis without growing its economy. Third, when establishing county governments, make sure you follow the "golden rule" of fiscal decentralisation: finance follows function. Simply said, counties should not receive additional money without commensurate responsibility.
Also, find the right balance between local autonomy and the national macro-economic interest. For example, Brazil and later Argentina, slid into a debt crisis in the 1990s, mainly due to irresponsible borrowing by sub-national governments which eventually required a bail-out by the centre. Kenya has already been applying many of these lessons in recent years. This country has been receiving deserved praise for its wise fiscal policies and budget management.
But implementing the next budget will be a tough act. The government will need to achieve the "hat-trick" of combining (i) fiscal prudence, to continue rebuilding its buffers, (ii) maintained focus on infrastructure, to help grow the economy, and (iii) implementation of the Constitution, ensuring that county governments are well-financed and equalisation becomes reality. Fortunately Kenya is not Greece, but hold off on that Tusker for now, there is still some way to go.
http://www.nation.co.ke/oped/Opinion/-/440808/1433790/-/item/1/-/ory1t8/-/index.html
Kenya is one of many African countries that have managed to bring down their debt to sustainable levels over the last 10 years. Many benefited from debt relief in the process, but Kenya's macro-economic success is home-made. In 2003, Kenya's debt stood at 60 per cent of GDP. Then, through prudent fiscal policies - particularly strong revenue mobilisation - and economic growth, it gradually brought the debt burden down to below 40 per cent of GDP by 2008. Back in this comfort zone, it was able to respond to the global financial crisis, the post-election violence and a severe drought with fiscal stimulus.
The amount of debt relief Kenya received (through rescheduling in the 1990s) was trivial compared with the "hair-cut" Greece has been receiving. According to the International Monetary Fund, Kenya is on track to return to the 40 per cent mark within the next two to three years.
Debt dynamics are a key driver of global economic change over the last decade. A look at the G20 countries, which just met at their annual summit in Los Carbos, tells the story well.
In 2000, the debt of the richest economist (G7) amounted to 68 per cent of their cumulated GDP. Back then, emerging economies the other 13 members of the G20) were doing better, with debt at 49 per cent. Since then, the gap widened enormously. The advanced economies' debt increased to 110 per cent, while emerging economies reduced theirs further to 36 per cent.
The EU remains the world's largest economic bloc but prospects are grim. Disintegration of the euro could herald a replay of the Great Depression and an unravelling of the union. Who would have thought, a decade ago, that many poor African countries, lambasted for their corruption, could teach Europe a lesson in macro-economics? In the eurozone, only Estonia and Luxemburg can boast lower debt-to-GDP ratios than Kenya.
Time to pop the champagne (or a good Tusker) and open the spending tap? Not so soon. Reducing debt levels is a painful and long process. And upward pressure can build up quickly, especially if the government suddenly has to bail out banks or if growth collapses, while fiscal deficits continue to increase. Economic health is like physical fitness: you have to build it when it is good, afterwards it is too late. If the economy is healthy you are in a much better position to manage a crisis when it hits you.
Kenya still has many vulnerabilities which may well increase in coming years. Contingent liabilities are a good example. Kenya's large current account deficit could yet again trigger a decline of the shilling translating mechanically in higher debt (which is largely dollar denominated).
In 2013, Kenya will also need to find additional resources to manage the elections and the needs of county governments. So let us reverse the question: What can Kenya learn from Europe's woes and global experience? Three key lessons stand out. First, spend money wisely even - and especially - when times are good. Keep fiscal deficits under control and invest in sectors that grow your economy. In short, build buffers while you can, so they can be drawn upon when a shock occurs. Second, when a crisis does hit you, stay the course on growing the economy through structural reforms. What matters is not the absolute amount of debt, but its proportion to the overall economy. Greece's debt is not monumental, and spending is (now) under control; but it is dramatic because the economy is shrinking rapidly. No country has ever escaped a debt crisis without growing its economy. Third, when establishing county governments, make sure you follow the "golden rule" of fiscal decentralisation: finance follows function. Simply said, counties should not receive additional money without commensurate responsibility.
Also, find the right balance between local autonomy and the national macro-economic interest. For example, Brazil and later Argentina, slid into a debt crisis in the 1990s, mainly due to irresponsible borrowing by sub-national governments which eventually required a bail-out by the centre. Kenya has already been applying many of these lessons in recent years. This country has been receiving deserved praise for its wise fiscal policies and budget management.
But implementing the next budget will be a tough act. The government will need to achieve the "hat-trick" of combining (i) fiscal prudence, to continue rebuilding its buffers, (ii) maintained focus on infrastructure, to help grow the economy, and (iii) implementation of the Constitution, ensuring that county governments are well-financed and equalisation becomes reality. Fortunately Kenya is not Greece, but hold off on that Tusker for now, there is still some way to go.
http://www.nation.co.ke/oped/Opinion/-/440808/1433790/-/item/1/-/ory1t8/-/index.html
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 59,208
- 79,447
The story goes on, in an effort to plug in that 15% budget deficit...the bowl has hit the streets of Rio de Janeiro, this time the agenda is to feed the people i.e. agricultural
Business News
Kenya seeks Sh170bn from Brazil
President Mwai Kibaki. Photo/FILE
By PPS
Posted Sunday, June 24 2012 at 09:11
Kenya is in talks with Brazilian Development Bank (BNDES) in an effort to secure USD2 billion (approximately Sh170 billion) credit to support its development projects.
President Kibaki who is in Rio de Janeiro in Brazil attending the United Nations Conference on Sustainable Development held talks with the President of BNDES, which is the second largest development bank in the world.
During the talks, Kibaki expressed Kenya's interest in establishing a credit-line of USD2 billion with BNDES to finance priority projects that include agricultural development, infrastructure and energy.
With respect to infrastructure Kibaki said the construction of roads is an important part of Kenya's development agenda.
Kibaki appealed for partnership with Brazilian Government and investors in infrastructure development to decongest the city of Nairobi.
In the energy sector, Kibaki sought the support of the Brazilian Development Bank in financing the production of sugar, ethanol and co-generation of electricity.
During the talks, the President of the Brazilian Development Bank said the bank will extend a soft loan of USD80 million (approximately Sh6.8 billion) towards the mechanisation of agriculture in Kenya.
BNDES will extend further financing in excess of USD150 million (Sh13 billion) towards the construction of link roads and interchanges to decongest the city of Nairobi.
"With this commitment, Kenya now awaits the results of the review that the Brazilian Government and the Brazilian Development Bank are carrying out in conjunction with the Ministry of Nairobi Metropolitan Development for the construction of interchanges to decongest the city of Nairobi," said the PPS statement to the newsroom.
http://www.nation.co.ke/business/news/-/1006/1434544/-/view/printVersion/-/4dxfgmz/-/index.html
Business News
Kenya seeks Sh170bn from Brazil
President Mwai Kibaki. Photo/FILE
By PPS
Posted Sunday, June 24 2012 at 09:11
Kenya is in talks with Brazilian Development Bank (BNDES) in an effort to secure USD2 billion (approximately Sh170 billion) credit to support its development projects.
President Kibaki who is in Rio de Janeiro in Brazil attending the United Nations Conference on Sustainable Development held talks with the President of BNDES, which is the second largest development bank in the world.
During the talks, Kibaki expressed Kenya's interest in establishing a credit-line of USD2 billion with BNDES to finance priority projects that include agricultural development, infrastructure and energy.
With respect to infrastructure Kibaki said the construction of roads is an important part of Kenya's development agenda.
Kibaki appealed for partnership with Brazilian Government and investors in infrastructure development to decongest the city of Nairobi.
In the energy sector, Kibaki sought the support of the Brazilian Development Bank in financing the production of sugar, ethanol and co-generation of electricity.
During the talks, the President of the Brazilian Development Bank said the bank will extend a soft loan of USD80 million (approximately Sh6.8 billion) towards the mechanisation of agriculture in Kenya.
BNDES will extend further financing in excess of USD150 million (Sh13 billion) towards the construction of link roads and interchanges to decongest the city of Nairobi.
"With this commitment, Kenya now awaits the results of the review that the Brazilian Government and the Brazilian Development Bank are carrying out in conjunction with the Ministry of Nairobi Metropolitan Development for the construction of interchanges to decongest the city of Nairobi," said the PPS statement to the newsroom.
http://www.nation.co.ke/business/news/-/1006/1434544/-/view/printVersion/-/4dxfgmz/-/index.html
The story goes on, in an effort to plug in that 15% budget deficit...the bowl has hit the streets of Rio de Janeiro, this time the agenda is to feed the people i.e. agricultural
Business News
Kenya seeks Sh170bn from Brazil
President Mwai Kibaki. Photo/FILE
By PPS
Posted Sunday, June 24 2012 at 09:11
Kenya is in talks with Brazilian Development Bank (BNDES) in an effort to secure USD2 billion (approximately Sh170 billion) credit to support its development projects.
President Kibaki who is in Rio de Janeiro in Brazil attending the United Nations Conference on Sustainable Development held talks with the President of BNDES, which is the second largest development bank in the world.
During the talks, Kibaki expressed Kenyas interest in establishing a credit-line of USD2 billion with BNDES to finance priority projects that include agricultural development, infrastructure and energy.
With respect to infrastructure Kibaki said the construction of roads is an important part of Kenyas development agenda.
Kibaki appealed for partnership with Brazilian Government and investors in infrastructure development to decongest the city of Nairobi.
In the energy sector, Kibaki sought the support of the Brazilian Development Bank in financing the production of sugar, ethanol and co-generation of electricity.
During the talks, the President of the Brazilian Development Bank said the bank will extend a soft loan of USD80 million (approximately Sh6.8 billion) towards the mechanisation of agriculture in Kenya.
BNDES will extend further financing in excess of USD150 million (Sh13 billion) towards the construction of link roads and interchanges to decongest the city of Nairobi.
"With this commitment, Kenya now awaits the results of the review that the Brazilian Government and the Brazilian Development Bank are carrying out in conjunction with the Ministry of Nairobi Metropolitan Development for the construction of interchanges to decongest the city of Nairobi," said the PPS statement to the newsroom.
http://www.nation.co.ke/business/news/-/1006/1434544/-/view/printVersion/-/4dxfgmz/-/index.html
[h=1]You are such an idiot; learn to differentiate between begging for free things and borrowing credit. Majority of people and nations the world over develop through loans, infrastructure bonds and the likes. If you had an iota of articulation capability, you could have noted that the credit being sort after is geared towards financing of priority projects that include agricultural development, infrastructure and energy. Kenya unlike Tanzania is not addicted to aid and free help for such simple things as running a national budget.[/h]
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 59,208
- 79,447
calm down brother found that in the Nation of all the media houses, nothing much of a difference between begging and a loan, they all have time to be paid back with interest :A S tongue:, Emilio should then ask the money from internal banks to avoid this to be called begging; as a matter of fact, i swear Emilio will go to China,Russia and India after Brazil to do the same thing asking for funds to plug inn the deficits watch this space....u will keep posted!
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 59,208
- 79,447
begging to do plug in a bigger budget is such a wicked brain, its spending what u don't have! btw be reminded we feed u....!
Dhuks
JF-Expert Member
- Mar 15, 2012
- 1,629
- 695
I thought that there were more important things for you to think about but since Kenya doing that or not doing that are your pet subjects why would you care where we go begging so long as we dont come begging to Tanzania?
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 59,208
- 79,447
u beg us food remember media attacks when the GOT closed border to prevent cereals going up North?
kshaka
JF-Expert Member
- Nov 3, 2011
- 366
- 118
I know you're a bit slow but begging and buying are two different things...
kshaka
JF-Expert Member
- Nov 3, 2011
- 366
- 118
Refer to IMF country director above about Kenya's debt and how GoK is dealing with it. He's not an economics illiterate like you so he kknows what he's talking about
Kenya on track in tackling debt burden but it is too early to pop champagne *- Opinion*|nation.co.ke
kshaka
JF-Expert Member
- Nov 3, 2011
- 366
- 118
P.S. While you are wasting your time on the internet desperately trying to create a narrative of Kenyan failure...a narrative which does not have a firm basis in reality, guess what Kenyans are up to?
P.P.S. Mekatilili , could you please update our friend here with your list...
P.P.S. Mekatilili , could you please update our friend here with your list...
Last edited by a moderator:
Dhuks
JF-Expert Member
- Mar 15, 2012
- 1,629
- 695
We have gone through this elsewhere before and i have no intention of going through it here, we agree Tanzania is the land of milk and honey where knowledge, peace,wisdom, resources are all in abundance so can we agree that you stop being spiteful of your begging northern neighbours?
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