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| Youth Friendly and Inspriational: Kenya's Finance Minister Dares to be Different |
 PRINTABLE VERSION |
While the Kenyan economy grew by 5.8% in the last fiscal year, the current growth is projected at 7% on the average for the 2006-2007 financial years. The Minister put the country’s Gross Recurrent Expenditure target for the 2006-2007 financial years at 412.5 billion shillings. Similarly, the Gross Development Expenditure for 2006-2007 was set at 137.6 billion with target tax and the overall fiscal deficits for the same years being 375.4 and 57 billion respectively.
Martin Kisuu, a Senior Tax Expert from the management firm Delloitte and Touché’s Kenya Country Office, in a post budget analysis on Kenya’s KTN television expressed optimism with the budget. However, he pointed out that the government left out fiscal angles towards the management and conservation of the environment. This, he stated, should have encompassed consideration for health hazards such as smoke from cigarettes, un-road worthy vehicles and industries. The fiscal policy, he noted, should also have looked at the issue of packaging materials much of which is polythene derived and has thus been causing pollution and health hazards.
Nonetheless, all planned and said, the implementation of the budget now remains with the government and the Kenyan public, whose goodwill and cooperation will be needed for its final success. With the hope that it has generated, the “Framework for the future: Laying the Building Blocks” will indeed herald the next new cost-effective beginning for Kenya, arguably one of the top economic giants in Africa.
*1 US $=KShs. 72.
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Antony Felix O. Simbowo
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