“This means by the time we fully repay the Eurobond, some of the projects it is supposed to finance may not have been completed or in the worst case scenario, they may not have even started. Therefore, the impact of the bond on the economy in the Medium Term may be negative,” warned the Parliamentary Budget Office. The team strongly believes that the only way out from the mess is for the money to immediately go into projects that will spur economic growth and boost service delivery. Economists, fiscal analysts and tax experts in the Budget Office said the current interest regime would remain high, at least in the short-term, as banks try to protect their profit margin in the high-risk Kenyan market. Read more at: standardmedia.co.ke/business/article/2000134631/budget-office-warns-national-treasury-on-eurobond-billions
Posted on: Fri, 12 Sep 2014 08:58:16 +0000
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