10 June, 2009

Kenya Budget Day 2009 Eve !

Today will be the eve to the 2009 Budget Day Speech to be read by Kenya's grand coalition finance minister Honourable Uhuru Kenyatta on Thursday June 11, 2009 and most Kenyans have jittery feet And for good reasons among them:

  • First, the Minister is challenged by the World Global Recession,
  • Two, he has to Budget for over 40 ministries the largest Kenya has ever hard,
  • Three ,He has had two major blunders with regards to the Supplementary Budget estimates which he attributed to "computer error "and or "typo's" hence public confidence has waned in that regard.
  • Uhuru Kenyatta's educational background as a political science student at Amherst College , Massachusetts, in the USA does not adequately fit him for the role of Finance Minister. But the President against all expectations did appoint him as a Finance minister perhaps under the backdrop of Political Succession.
  • Kenyans are already over taxed and most economic analysts are speculating that the Government will heavily borrow from the domestic market in order to meet the budget deficit!This may just create a credit crunch and over crowding for Bank loss ending in low business and or economic growth.
Well, what does the son of the first President Mr Jomo Kenyatta have up his sleeve in light of the above circumstances?...I guess we will find out tommorow, stay tuned!

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