Kenya's 2018/2019 fiscal budget to hit 29 bln USD -7 bln USD more than Nigeria

[Sammuel999]

NAIROBI, Sept. 15 (Xinhua) -- Kenya's budget for the 2018/2019 financial year is expected to hit 29 billion U.S. dollars, up from the 26 billion dollars for the current financial year, officials said on Friday.
Principal Secretary in the National Treasury Kamau Thugge told participants in a budget forum in Nairobi that approximately 19 billion dollars will be raised through taxes and government fees.
"The rest will be raised from domestic and external borrowing, including concessional loans from bilateral and multilateral partners," Thugge said during the launch of the Sector Working Groups for the Preparation of the 2018/2019 financial year.
Thugge said that out of the total resource envelope of 29 billion dollars only 2.95 billion dollars will be available for discretionary spending.
The bulk of the budget will cater for the public wage bill as well as interest payments on domestic and foreign debt.
According to Thugge, next year's budget will focus on funding projects that will support strategic investments aimed at promoting economic growth and job creation.
Thugge said that the budget deficit for the 2018/2019 financial year is expected to decline to less than 6 percent as part of measures to maintain overall macroeconomic stability.
The treasury official noted that the government is committed to reducing the fiscal deficit in order to maintain public debt levels sustainable.
"The net present value of public debt as a ratio of gross domestic product (GDP) as of the end of 2016 stood at 47.8 percent," he said, adding it remains below the debt sustainability threshold level, established by Bretton Woods institutions, of 75 percent of GDP.

 

[tuusan]

How much did KRA collect in a year 2016-2017 in USD ?

 

[Bwana254]

How much did KRA collect in a year 2016-2017 in USD ?

NTV just reported today that KRA collected Ksh 1.55tr thereby missing their target by Ksh 29bn.

 

[Sammuel999]

How much did KRA collect in a year 2016-2017 in USD ?

15bn$

Target this year ni 17bn$

Next year ni 19bn$

Mind you Tanzanias Total budget ni 12bn$

 

[Sammuel999]

NTV just reported today that KRA collected Ksh 1.55tr thereby missing their target by Ksh 29bn.

Andika 290mn$ ndio a danganyikan asikam hapa confused!!

 

[Sammuel999]

Btw just read kwa standard ya jana i think that Kenyas budget for development last year after reccurent revenue and Debt repayment ni 7bn$ na the year before that ilikuwa 6.4bn$

Meaning in 10yrs we will have a cummulative 70bn$ plus ya development...na hapa hatujaongeza debts acquired!!....this year alone Kenyas debt for developmenr projcet imekuwa 5.6bn$ that implies Kenya GOK will use 12.6bn$ for developmen this year......that is like 3000km ya SGR ama 5 galana irrigation schemes ama Konza city ama Half of Lappset yearly in development....Kenya has money i just wish we could use it on things that matter gakii!!

 

[tuusan]

15bn$

Target this year ni 17bn$

Next year ni 19bn$

Mind you Tanzanias Total budget ni 12bn$

Where did you get 12bn$ from?

Sent from my SM-J200H using JamiiForums mobile app

 

[Bwana254]

15bn$

Target this year ni 17bn$

Next year ni 19bn$

Mind you Tanzanias Total budget ni 12bn$

Your figures are actually more correct.Nimechanganya miaka ,yeye aliuliza 2016/17 na mimi nikamjibu na takwimu za mwaka wa 2017/ 2018.

Anyway , today economic growth figures for this year have been shifted further downwards to 5.5% growth due to the prolonged electioneering.

 

[Tony254]

NAIROBI, Sept. 15 (Xinhua) -- Kenya's budget for the 2018/2019 financial year is expected to hit 29 billion U.S. dollars, up from the 26 billion dollars for the current financial year, officials said on Friday.
Principal Secretary in the National Treasury Kamau Thugge told participants in a budget forum in Nairobi that approximately 19 billion dollars will be raised through taxes and government fees.
"The rest will be raised from domestic and external borrowing, including concessional loans from bilateral and multilateral partners," Thugge said during the launch of the Sector Working Groups for the Preparation of the 2018/2019 financial year.
Thugge said that out of the total resource envelope of 29 billion dollars only 2.95 billion dollars will be available for discretionary spending.
The bulk of the budget will cater for the public wage bill as well as interest payments on domestic and foreign debt.
According to Thugge, next year's budget will focus on funding projects that will support strategic investments aimed at promoting economic growth and job creation.
Thugge said that the budget deficit for the 2018/2019 financial year is expected to decline to less than 6 percent as part of measures to maintain overall macroeconomic stability.
The treasury official noted that the government is committed to reducing the fiscal deficit in order to maintain public debt levels sustainable.
"The net present value of public debt as a ratio of gross domestic product (GDP) as of the end of 2016 stood at 47.8 percent," he said, adding it remains below the debt sustainability threshold level, established by Bretton Woods institutions, of 75 percent of GDP.

Kenya tuko sawa na Tanzania hawatawahi kutufikia. Lakini niko na shida na hiyo budget deficit. Budget deficit ni hiyo gap ya budget that will be financed through debts. Our current budget deficit is 10% and IMF has said that that is too high. I am happy that G.O.K wants to reduce it to 6%. I believe that if we manage our debt then we will be industrialised soon.

 

[Tony254]

Kenya tuko sawa na Tanzania hawatawahi kutufikia. Lakini niko na shida na hiyo budget deficit. Budget deficit ni hiyo gap ya budget that will be financed through debts. Our current budget deficit is 10% and IMF has said that that is too high. I am happy that G.O.K wants to reduce it to 6%. I believe that if we manage our debt then we will be industrialised soon.

I believe we are here to talk the good and the bad. If the govt manages debt well then we will be o.k. Tanzania hawatawahi fikia Kenya. Already budget yetu ni double yao na pia ni kubwa kushinda ya Nigeria. If the money is spent well I don't see why we should not be an industrialised country soon.
Here is the article about KE's fiscal deficit

IMF says Kenya’s failure to narrow fiscal deficit may push up its international borrowing costs

 

[pingli-nywee]

Am glad Sammuel999 is actually back in his element, siasa ni mbaya mzeiya! Hehe. This figures are impressive! Pliz do not take this figures to the Nairalanders, I know you man, Nigerians are a very sore lot right now!

 

[Lamdele]

Am glad Sammuel999 is actually back in his element, siasa ni mbaya mzeiya! Hehe. This figures are impressive! Pliz do not take this figures to the Nairalanders, I know you man, Nigerians are a very sore lot right now!

wacha wapelekewe ndio waumwe yaani wana wivu kweli kweli

 

[pingli-nywee]

wacha wapelekewe ndio waumwe yaani wana wivu kweli kweli

wacha wapelekewe ndio waumwe yaani wana wivu kweli kweli

Mkuu umefika Nairaland ukaona wanigeria walivo na povu na chuki dhidi ya watu wa E.Afrika? Afu ni majamaa zero brain hawajui historia wala chochote kuhusu waafrika wenzao? Yaani niliyoyaona huko, acha tu. Tz ni watani wetu wa kweli, ukijaribu wanigeria utatamani uonane na mtz baada ya hiyo yaani hata kumkumbatia utamkumbatia tu! E.Afrika tusijidharau. Tz, Ke, Ug, Rw, Br ni combination ya ajab iliyo na waafrika wa kweli ndugu yangu!

 

[Synod]

15bn$

Target this year ni 17bn$

Next year ni 19bn$

Mind you Tanzanias Total budget ni 12bn$

Hii ni ya mwaka gani?

Andika 290mn$ ndio a danganyikan asikam hapa confused!!

If you were that much smart, how could you fail to convert Tsh.31.71 trn into $?


No wonder somebody said you ar back in your elements[emoji23] [emoji23] [emoji23] [emoji23] [emoji23] [emoji23] and these are your real characters he was referring to!

 

[Synod]

Kenya tuko sawa na Tanzania hawatawahi kutufikia. Lakini niko na shida na hiyo budget deficit. Budget deficit ni hiyo gap ya budget that will be financed through debts. Our current budget deficit is 10% and IMF has said that that is too high. I am happy that G.O.K wants to reduce it to 6%. I believe that if we manage our debt then we will be industrialised soon.

10% is too high, ndio maana sio busara sana kushangilia bajeti kubwa bila kujua dosari kama hizi, nchi itakuwa ya kukopa kila siku!

Despite the fact that our budget is still staggering, I'm relieved to see that our budget deficit is only 3.8%.

 

[joto la jiwe]

Your figures are actually more correct.Nimechanganya miaka ,yeye aliuliza 2016/17 na mimi nikamjibu na takwimu za mwaka wa 2017/ 2018.

Anyway , today economic growth figures for this year have been shifted further downwards to 5.5% growth due to the prolonged electioneering.

Marekebisho kidogo, uchumi wa Kenya unategemea kukua kwa 4.8% kutokana na ukame, kuporomoka kwa utalii na sintofahamu inayotokana na uchaguzi, sio 5.5% kama ulivyoripoti. Pili ninadhani bajeti maana yake ni matumizi, na siku zote mwenye busara yoyote hajisifu ni kwa kiasi gani anatumia pesa yake, huwa anajisifu ni kwa kiasi gani anavyopunguza matumizi na kuongeza kipato, ukuaji wa uchumi wowote ule unategemeana na kuongezeka kwa kipato na kupungua kwa matumizi, mbuna majirani zetu mnageuza mambo kichwa chini miguu juu?.mimi ninadhani kufanya mashindano ya kimaendeleo ni jambo zuri, sio kusifiana au kujisifu kwa kutwanga au kutumia pesa nyingi, wakati kasi ya kukua kwa uchumi inazidi kupungua.

 

[Jay456watt]

shida ni kuwa most of this budget inaenda kwa wage bill...stupid Mpigs!!! we have the money Sam to build those mega infrastructure projects on our own and even leave some for industrialization...

 

[joto la jiwe]

shida ni kuwa most of this budget inaenda kwa wage bill...stupid Mpigs!!! we have the money Sam to build those mega infrastructure projects on our own and even leave some for industrialization...

Hiyo pesa unayosema iko wapi?, Hiyo ni bajeti inayoonyesha pesa inayohitajika kutumika sio iliyopo, ukitaka kujua kama Kenya ina pesa au haina angalia balance sheet ya nchi, kiasi gani Kenya inaingiza na kiasi gani inatumia, balance sheet ya Kenya is very very ugly, nenda uichungulie kwenye website ya wizara ya fedha ya Kenya ujionee. Pili unapaswa kuanisha vyanzo vikubwa vya mapato ya nchi, Kenya inategemea, kilimo, utalii, manufacturing, maua, construction, financial service kama vyanzo vikuu vya mapato, ukiondoa financial services, zilizobaki zote zinachechemea, ndiyo sababu balance sheet ya kenya inazidi kuwa negative year after year.

 

[joto la jiwe]

Kitomari Banking & Finance Blog: TANZANIA IS MOST PROFITABLE FOR KENYAN BANK SUBSIDIARIES

 

[Engineer levi Devin]

Am glad Sammuel999 is actually back in his element, siasa ni mbaya mzeiya! Hehe. This figures are impressive! Pliz do not take this figures to the Nairalanders, I know you man, Nigerians are a very sore lot right now!

Wahenga hawakukosea waliposema watoto wanyumba moja wakipigana hawawezi wakapasua chungu,,,,,, Kenya's love politics ,and its democracy to support either party. Samuel999 is our son ,our brother, and at the end of the day he must come home.east or west home is the best.