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Old April 15th, 2019, 04:27 PM   #541
abckris
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Originally Posted by Netlink View Post
IMF tips Kenya economy to hit Sh10trn this year

Note: That is an edited version. Please read the full article here
This is great news. Two things:
1) I would rather count on Kenya's economy without oil exports from our mines. We are better off without that curse and what it brings. If it's going to bring divisions and wars, let it stay underground until such a time that we are ready. If it's going to be looted let it stay underground too, because it will cause social instability in our country, and the evidence is clear, we've attained this level of growth without that oil export/production. And if we tighten anticorruption belts and focus more on efficiency, we could attain much more growth.
2) The investment in infrastructure across the nation has ensured that money supply and access are improved over the recent years, which has excited investment opportunities to prosper. That investment should continue across the nation for us to maintain this growth longer.
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Old April 15th, 2019, 06:58 PM   #542
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I thought they had started exporting the oil. I regularly see those trucks from Turkana passing through Eldoret so I assumed they had to be exporting it.
They're storing it in Mombasa. Since it's still in the pilot phase. They're still looking for a buyer so we'll see.


Also if the government could cut taxes it would be a way of growing the economy faster and restart that engine once again.
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Old April 15th, 2019, 09:24 PM   #543
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Also if the government could cut taxes it would be a way of growing the economy faster and restart that engine once again.
This proposal is great and makes a lot of sense, except that the relationship between taxes and govt. revenue are intertwined or shall we say cyclical/simultaneous. Teasing out which taxes to cut can be really tough and that's what keeps the treasury and planning awake mostly, because taxes are the main source of govt. revenue and less revenue means less govt. investment and intervention in the economy, meaning less money supply in the market, less economic output, lower growth and the cycle repeats, it becomes a vicious cycle. The govt. is the number 1 buyer of goods and services in any market, and with lower cash collections that ability dissipates. To do it, the treasury and planning must look at overall effect on revenue (least impact on total) and least impact on the population masses (select niche sectors where there's potential to collect most revenue and affect the least number of people to maintain the overall total revenue or close enough without causing social instability.

On the other hand, cutting taxes as you posit, stimulates spending by the masses, which ignites production (thru increased demand), leading to more taxes too (thru sales), because more people get employed (increased labour demand) and pay taxes through their increased participation (buying goods and services) in the economic system. Economics has many similar simultaneous equation-type problems like this one. Balancing them can be hard, but it is possible (certain assumptions must hold as always in economics, because everything is dynamic in economics).
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Old April 25th, 2019, 03:56 PM   #544
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Agriculture spurs Kenya's GDP growth to 6.3pc in 2018: Economic Survey

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Kenya's economy grew by 6.3 per cent in 2018, helped by an impressive growth in agriculture, manufacturing and transport sectors.

This was an rebound from the 4.7 per cent growth in 2017, the slowest growth in five years—amid effects of an adverse weather and political jitters in the election year.

The agriculture sector grew by 6.6 percent, the highest in five years, data from the Economic Survey 2019 released on Thursday shows.

Agriculture accounts for close to a third of Kenya’s annual economic output.

Transport and storage services sector also grew to a five-year high of 8.8 per cent.

Manufacturing sector grew at a faster rate of 4.2 per cent in 2018, compared with 0.5 per cent in 2017.


However, the construction sector grew at a slower pace of 6.6 percent compared with 8.5 percent in 2017.

The economic survey data shows that the country's financial sector grew at 5.6 percent in 2018 compared with 2.8 percent the previous year.

Kenya, region’s richest economy, is one of the fastest growing areas on the continent but its performance is often hit by drought.

Violence after a December 2007 presidential election and disputes over the following two polls led some investors to scale back investment, hurting growth.

Missed revenue targets, rising public debt and uncontrolled expenditure have also emerged as concerns for investors in recent years.

The World Bank trimmed its 2019 economic growth forecast for Kenya to 5.7 percent from an earlier forecast of 5.8 percent due to a delayed onset of the main rain season.

The government expects the economy to grow by 6.3 percent in 2019, President Uhuru Kenyatta said earlier this month.
https://www.theeastafrican.co.ke/bus...rag/index.html

2019, and the country economy is still dependent on Rains
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Old May 9th, 2019, 03:40 PM   #545
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Interesting point of view, worst sharing 5 years later. I'm wondering what do you think about it. Is it over dramatic or realistic?

https://youtu.be/OjgJ2KpyJ5w
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