How Kenya can plug its gaping budget deficit
In exactly two months time East Africa’s largest economy Kenya, will be presenting its annual National Budget. The nation’s budget stands at Ksh3.6 trillion according to National Treasury estimates. CNBC AFRICA spoke to Anthony Muthusi to figure out how can the country plug it’s yawning fiscal deficit amidst a tough economic environment.
Thu, 20 Apr 2023 17:14:35 GMT
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AI Generated Summary
- The significance of Kenya's annual National Budget presentation and the staggering Ksh3.6 trillion budget estimate by the National Treasury
- Recommendation by economist Anthony Muthusi to allow the Kenyan shilling to float freely against the dollar as a measure to address the fiscal deficit
- The urgency for proactive measures and strategic interventions to stabilize Kenya's financial landscape and enhance economic resilience
In exactly two months, Kenya, East Africa's largest economy, is set to present its annual National Budget. With the nation's budget estimated at Ksh3.6 trillion by the National Treasury, the pressing question remains: How can the country address its significant fiscal deficit in the midst of a challenging economic environment? CNBC Africa recently sat down with Anthony Muthusi to delve into potential solutions. Muthusi, a renowned economist, highlighted the importance of implementing strategic measures to stabilize Kenya's financial landscape. One of the key recommendations put forward by Muthusi involves allowing the Kenyan shilling to float freely against the dollar. This, he suggests, could play a pivotal role in strengthening the country's economic position and narrowing the budget deficit gap. Muthusi's insights shed light on the complexity of Kenya's financial challenges and the necessity for proactive steps to achieve fiscal stability.
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