Eurobond brought in $2bn- That is Twice the sales value of Tea( and about 3-5 times all tax revenue - not sales- from horticulture)
So yes, Eurobonds is a very large earner of forex that goes to GoK coffers.
We are making more cash from selling eurobonds than all the taxes(Not sales) we collect from sale of horticulture
So we should celebrate Borrowing loans to pay off other loans?You mention the small Eurobond amount that came in, but fail to mention the large increasing dollar debt we paid out.
Eurobond was peanuts compared to what we paid out.
Even after shipping out all those dollars in debt repayment, our shilling still strengthened.
You will grow old looking for a single source of our strong shilling. We are a diversified economy.
So we should celebrate Borrowing loans to pay off other loans?
SMH
Well yes, lazy non producers in kibera will celebrate the strong shilling..But not hardworking coffee and tea farmers whose earnings will be slashed the strong shilling..Nop. We should celebrate a strengthening shilling.
Well yes, lazy non producers in kibera will celebrate the strong shilling..But not hardworking coffee and tea farmers whose earnings will be slashed the strong shilling..
Two can tango
No, inflation due to 2018 taxes bites hard on farmers esp for chemicals and inputs.But their new 'slashed' earnings, can go a longer way than before.
haha bringing feelings here instead of real economic analysis you are a real shame to Dar es salaam University AlumniNo, inflation due to 2018 taxes bites hard on farmers esp for chemicals and inputs.
Strong shilling is only good for kibera residents to import used chinese condoms - cheaper