Will budget spark new wave of price hikes? options to jump start economy limited John Njiraini and Benson Kathuri
Series: Financial JournalPublication details: Nairobi The Standard Group Tuesday, June 2, 2009Description: p.7 [The Financial Journal] The Standard, June 2, 2009Subject(s): Summary: According to analysts, the current structure of the budget where 60% constitutes recurrent expenditure (government overheads) 20% development and 20% debts is the hallmark of a country not committed to growth. For the country to grow, the government must direct 60% to the resources on development. Interest rates are still high despite CBK reducing its rate by 25 basis points from 8.25% per cent to 8% recently.
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According to analysts, the current structure of the budget where 60% constitutes recurrent expenditure (government overheads) 20% development and 20% debts is the hallmark of a country not committed to growth. For the country to grow, the government must direct 60% to the resources on development. Interest rates are still high despite CBK reducing its rate by 25 basis points from 8.25% per cent to 8% recently.
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