Kenyan Shilling Is Adjusting To It's Real Value - Treasury CS, Prof. Njuguna Ndung'u
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- Опубліковано 22 тра 2024
- This Is The Situation Room, Kenya's Biggest Conversation!
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Weka huyu na Wanjigi pamoja amezwe na theories zake. This guy is a mercenary of our wazungu overlords
He managed to give answers without actually answering any of the question
setting his own questions, hubris peke
go back to class, prof was eloquent
Ikr.
Listening to this guy is like listening to an audiobook of a school text book.
So true 😅
😊😊
We are truly in real trouble.
Abunuasis are fully in charge.
😂😂
This man in 2010 devalued kenyan shilings from 80 to 120. His agenda had been consistent
IMF degenerates always works to please their gods muzungus
Kama hujasoma economics enda ukafanye kitu ingine
Because of THE TWO BIGGEST CASINOS NAMELY IMF AND WORLD BANK, which intern still used as imperialist
@@dahirdubow8636 This makes China a betting firm, right?
IMF, mizungu and World Bank are very proud of him. He's an important cog in the system of neo colonialism
I think the leadership is so smart, they live in their own world…and we live in our own. Note taken
Great in theory little on substance Bwana CS!
KK regime is simply a pawn of IMF & World bank.
Please note, when you go to borrow from IMF, unlike banks, IMF don't ask for collateral/security.
What they normally do is, they lend you loans with chains attached.
These chains is what IMF calls SAPs - Structural adjustment programs. SAPs are a set of economic reforms that a country must adhere to if they want to secure a loan from IMF.
Examples of SAPs are;
1. Raising of taxes.
2. Privatize goverment owned enterprises.
3. Devalue currency.
4. Eliminating subsidies.
Question! Has the Kenya govt adhered to the aforementioned SAPs? Most definitely, YES!
Infact 70% of the govt programs and policy are dictated by the IMF.
So don't expect any honest answers from these people (KK regime), because they are mercenaries for hire.
Infact Kamau Thugge - Central bank governor worked for IMF for close to 2 decades. So if you think such calibre of people will improve our economy, my friend, don't hold your breath.
Exactly. These fellows have zero minds and zero ideas of their own. They are just parrots of IMF and World Bank.
Well put
what does IMF benefit fom this?
@@elviskent9104
Read confessions of an economic hitman by John Perkins, and you will get the answer.
@@elviskent9104 continued need for its funds by the countries given money and actualization of the globalist agenda
This conversation needs to be brought down to the human level, there's too much theory and classroom lecture instead of reality based effects of the taxation measures.
Either all of these guys in govt dont understanding anything like Kibaki knew or they are hiding real facts using a lot of mambo jambo
It's a clever way of not answering the real questions.
Just like Ruto that’s how conmen talk,Ruto shud go back to those meetings he was having before election but he cannot dare because he knows the ppl who elected him are not amused and those who didn’t have joined the others.
he has asked a legitimate question which additional taxes have they imposed?? most people cant answer that question but say there is too much taxation
This guy thrives on Obfuscation. Je came to make us think the "bottom up" is "intelligent" ... And he cannot simplify it, because then it can be questioned.
These folks can speak all the theories they have, but until they address the runaway corruption, state capture and impunity, they will continue to sabotage themselves to death. This far, they have scored extremely dismally. Kibaki did not take Kenyans down these baren theory alleys. He got the job done with least drama.
The guy who helped Kibaki to do that is this guy you are accusing of having theories. You buy the propaganda theories but when you are given facts, you wake up and get offended because the supply of your propaganda has been poked holes. Quite understandable! Everybody now comfortable in propaganda. But I am glad these guys are doing the job right, painfully as it is, because that is the consequence of economic sabotage by the handshake regime!
@@helabright you talk alotof nothing,,,if the runaway corruption in the current regime is not addressed nothing will be achieved things will just get worse
@@helabright Kibaki hit the ground running,the head determines how the country will be run,if he wants ppl who say yes and Amen to everything he gets exactly that,Ruto and his gang are running the show you either join them or you’re out..Germany is also having liquidity issues corona was everywhere,Ukraine war effects are everywhere drought ,then you start hiking everything. Nothing is functioning from a to z blackouts,Airport leaking, education ,this gava is only doing things which brings cash into there pockets.Young people want jobs abroad what is taking so long but for Haiti cause the monies are being paid to gava hiyo ni chap chap.Even a blind guy can see where these thieves are leading us.Come 2027 hawa watu they shud not be anywhere near a elections and I mean each one of them wapatiwe red card.🟥
@@helabright The previous regime did people really, really bad...from SGR, Arror & Kimwarer, EuroBond, NYS, Covid 19/ Afia house, Huduma Number, Laptop project, BBI, Military Helicopters, Galana-Kulalu, NSSF, NCPB, Beyond Zero, Police Uniforms etc.
People don't really understand the amount of money borrowed and stolen with all these scandals...Billions of US dollars.
The debt burden that was put on the Kenyan will be felt for the next 60+ years and future generations to come.
People don't get the proper scale & Grand theft, that occurred by the previous regime. And that is something that cannot be fixed within even 20 years...na watu wameanza kulia na watengenezewe within the 1st year....Lazima itawaramba proper🤣🤣🤣
@@helabright Dear Wanjiru,
I understand your perspective, having been influenced by Kenya Kwisha's propaganda. I'm not criticizing Professor's ideas; I'm emphasizing that his theories, however brilliant they may seem, are meaningless as long as rampant corruption remains a government issue. Your unwavering support for the corrupt KK regime and your blindness to the irreparable state of affairs suggest that you may be beyond redemption. Ruto has deceived Central Kenya by exploiting their psychology. While the president's credibility crumbles in his own Rift Valley stronghold, his CSs are met with jeers and ridicule, yet a small group in Central Kenya still believes this failed tyrant and gang leader is their savior.
Ruto is not improving Kenya. He ignores the brilliant ideas offered by his advisors. I urge you to follow David Ndii, his economic advisor, and pay attention to his recent tweets/posts. He is frustrated by the regime's impunity, rampant corruption, and blatant disregard for its citizens.
How long will it take you to realize that your messiah has failed? Open your eyes and smell the coffee. Kenyans deserve better than this drama and turmoil. During Kibaki's leadership, we witnessed minimal drama and reaped the benefits of sound economic policies under a sober, listening leader. I guarantee that the situation will only worsen under this failed regime. It's a tower of Babel, crumbling before our eyes. I hope I'm wrong, but I fear I'm right. Good luck in your generous hopes for this failed leadership!
Every time he uses word reality, i feel like defining it for him.
"Kenyan Shilling Is Adjusting To It's Real Value"
So the dollar is also adjusting to its real value🙆♀
Full professor saying Hustler fund is a good intervention.... wonderful
These are career civil servants who know a lot of theories than any practicals
UNTILL you appreciate what he is talking about, you will for ever be bitter.
Should we get Sonko in treasury? He is practical.
I can’t believe this gentleman is in a position of authority. He’s tone deaf to reality that is affecting regular citizens.
he lives in his office eating mandazi and drinking tea
Its a shame, its a disgrace. That is what happens when people like him, who since they left school have never lacked a very well paying job are left to make decisions on behalf of the poor and struggling majority. This man will collapse this economy.
@@koigifm3815 he is already you can see how excited he is ,as he drinks tea like we are an experiment in a lab.playing with people lives.
KK government is the very definition of tone deaf, starting with the nabii himself.
Let him go back to lecture halls where these theories and talks are needed. We need a real hands on CS.
I love listening to the situation room. We did not get to hear WHAT the govt has done to reduce its spending. Then, on the Govt budget, why would we have a budget for LOANS of Civil cervants???? A regular Kenyan has to go to a bank to get a loan. No wonder this budget is so bloated.
"People budget on their disposable income... and human beings adjust to their disposable income."
So, take everything they have, and they will adapt and adjust! Such a crook, thief and robber!
No country has developed on taxation,you are right my dear sister.
Tackling impending negative economic shocks accumulated over time(last 6-7 years)requires sending positive goodwill messages to the markets(no defaults).
Have to try and listen to this with an unbiased mind.
even with an unbiased mind, he still did not give answers to questions asked, he was all over and nowhere in particular. I have tried to listen to him but he behaves as if he does not know anything. From forensic audit, data collection. I was listening to his interview to seek guidance but he seems not clear.
No matter what you do, even if you are totally neutral, you will know this is a mad man talking, Income Tax has been raised for some people, Housing Levy has been imposed on Employees and Employers, Fuel Tax has gone up with 8%, excise duty has been imposed on so many things that were not taxable before, turnover tax has been imposed on business based on revenue, regardless on whether you are making a profit or a loss and he is asking WHICH TAXES????????????, and he is saying this government have not increased any taxes. Biased or not, this is either a Mad Man, under duress or just outrightly lying.
this professor lives in his own world of theories that don't work
See how he's become so triggered with the lady because she wasn't taking his bullying antics
He's a mzungu's puppet. He's pleasing his fathers who at in London
@@siloalapei2448 very true
This interview felt like a lecture in economics and the exam is coming...CS treasury has not spoken to "boda boda guy"
Voodoo Economics that do not help a common citizen
13:56
Yooo,he's even gaslighting the journalists. 😢
William is the most economical person in truth, currently. Njuguna is turning out as one of his best students, he is learning fast.
Even the moderators of the show can not answer simple question about the tax added 🤣I mean how many people how they brought to talk about this? Power Token, Fuel, PAYE, Housing, health isn't? kama moderators wako chini hivi je? the common mwananchi 😢
Useless Njuguna Ndungu. In 2011 the Reuters regional analysts ranked you as the least effective governor in Africa. Imagine you witnessed the depreciation and collapse of the Kes during Kibakis era. You come there smile. Tell Kimani Ichugwa Kenyans don't eat dimples.
This man wants to talk and not be challenged or interjected because he will forget what he mastered. This is not a discussion, it is a lecture.
Wonderful presentation
very informative
When I saw this guy appointed, I knew we were finished 😂😂
The CS has said alot of hot air!!
I have never seen CT more amused with a guest, and he's my bullshit meter in this show. On the other hand, he never shows much amusement when it's Wanjigi on air.
Bullshit meter has me dead on the floor🤣🤣
If you can write English, why do you need an untrained economist to interpret for you economics 🤔 😅.
I don't know, CT has always seemed easily mesmerized and amused to me. But I agree with you he's never as jolly when it's Jimi on the chair.
CT is just impressed by the sound of his own voice. His questions are usually nonsense
@@williammwendwa129 I concur with that assessment actually
You guys are the best
Great dialogue am a kenyan following all this in qatar
Listening to waziri talking is akin to listening story za jaba
My good Prof. I am listening to you and you definitely believe in your formulae even if Kenyans don't. I wish your arithmetic can make sense to the tailor and small shop owner in my village.
Brilliant Economic Mind!!
This guy is intellectual on how he can rely on the history and can speak facts but have learned something new about treasury
4:11
"The Government has no other way, except generating money from taxes". This is a BS mindset.
Tell us the other way government can mobilize resources except taxes and loans. Government doesn't do business.
The government has a ministry called sports and youth affairs. It's a billion dollar industry. But because we really fear to stretch our minds. Let it be tax
That’s a small context out of a whole conversation….if you take it as such it won’t make sense. But this is a very insightful individual I’ve seen so far.
@@soko-yetudont increase taxes, enable more people to pay taxes by creating conducive business environment. Dont spend everything on infrastructure let private companies build infrastructure and collect levies. Only build critical infrastructure. When many businesses are successful people have money to spend and vice versa
@@soko-yetu Ever heard of State-Owned Enterprises? the government has potentially profitable businesses like the Sugar Mills in Western Kenya which are being run down by incompetency, and the profitable ones like the Kenya Meat Commission and Kenya Ordinance Factory which are operated by KDF are to inward looking instead of seeking export-oriented growth, Kenya government is also the biggest land owner in the country, it can do something called Tax Increment Financing, where they redevelop their underutilised real estate and idle lands with it's limited tax money and use the proceedings to offer tax waivers and if the profits are consistent carry out tax cuts, let's not forget we have a lot of useless civil servants, if you get rid of them, you can lease those offices in Nairobi CBD to the private sector and sell those many gas guzzling Prados to the public.
It's called the entrepreneurial state, and don't get me wrong, its not government replacing the private sector like with the stupid affordable housing project and the useless Hustler Fund but the government utilising its underutilised assets to remove burden from the private sector, Singapore is a living testament to it, that's why despite being a first world country, they can offer lower tax rates and still generate enough revenue
When you say government can only get money through taxation. Someone kindly enlighten me on the essence of parastatals
A year ago on his confirmation he largely spoke of fiscal consolidation. Today he is advancing more borrowings and more taxation instead of efficient use of what he already has.
He has allowed a thief to make nonsense of his relatively deep knowledge in economics.
As a Ugandan it's so sad to see Kenya still talking about protection of their markets while they freely sell their goods in Uganda.
The elephant in the room is corruption. The man isn’t answering any questions.
I agree, to it's real value in kk times, na bado. Has it stopped loosing streak.
The joke that i picked from his conversation is that he is the one who talked about a forensic audit then later on he says he did not read one that was done years back.
“When your tax base feels you are taxing them without representation you are in big trouble”
This guy is full of hot air
Actually he is full of sh*t.
Numerous governance and economic errors have been made since gaining independence, and it's evident that we are just starting to bear the consequences of these mistakes. It is going to be tough!
Having listened to his opening remarks to realize on protectionism, how is it feasible in the era of markets proliferation? does it mean Kenya has the economic power to execute a controlled market??
We want to, tutafanya , tumetenga, tuta.
Ndungu - Theory / Kibaki - Practical
plenty of heat..but no light from the CS..his words and explanation are at total loggerheads with the tax,inflationary and cost of business realities on the ground..he talks like we have a country whose demand and labour structures create an environment where incomes are elastic..🤐
True! He's living in Utopia.. very detached!
Now we know where our problems are coming from.
I don’t believe, even for a moment, that Dr. William Samoei arap Ruto, is unable to bring home economic goodies in Kenya. The former president, late Mwai Kibaki, was an older man with failing health but he gave us very decent economic trajectories. WHAT IS WRONG?
Ruto is just a Good PR president running a Country is different from PR
Kibaki was an economist who understood how to apply theories in real life. Ruto doesn't know anything about economics and does whatever his advisors tell him. He is clueless.
This guy is like my economics professor in college. The theory is convincing but once you walk out the doors the data don’t add up.
The system is f*cked,if I was in high school I would drop out right away, “they are teaching you the wrong thing”.
😂😂
This guy is literally the mwalimu wa maths guy, he has a syllabus to cover and he doesn't care whether 90% of his students don't learn. There is a reason why educationists have never been good economists
And we are struggling to adjust to our new reality.
People budget for their disposable income. The gentleman knows his thing. Whether it works or not, damn! I haven't heard such an informed economist.
Interesting that one cannot pinpoint the point of no return on the Laffer Curve "without data", but "the dollar is adjusting to its real value"
Its the look on Ndu's face for me
Are Old economic theories still applicable? Let's pray God to give them wisdom...
Then reduce governmet spending. Cut salaries by half of government officials, reduce the trips you make. This is tightening our belts
Thanks for bringing the CS…..lakini hii rusungu miiingi na theories….
Now we waite
Haha 😂
We need a forensic debt on the whole 10T debt. It was misused. Let the parliament, civil society and public be involved in discussing the loans needed and what they should be used for before they are taken.
i wish Wanjigi was here
Can’t wait for these ‘forensic audits’ to be complete. Y’all better grill him on every question he answered with ‘we need a forensic audit.
Also y’all took it easy on him. Have data and facts when questioning him and he will fold
Any future Eurobonds should be ring fenced for USD investments not convert to KES for budgetary support that brings in depreciation of the KES
Naelewa y ruto alimuandika excuses never seem to end na hii serikali
He also said that apart from fuel VAT nothing more was increased or introduced, if i have said it wrong just refer me to a time stamp
Required ratio of expenditure to GDP is 24%. Required by whom?
Mlete Gachagua sasa 😁😁😁 tunataka kuskia akijibu proverb
Bruh
I'm shocked at how the man felt happy with himself at the end when he actually said nothing. These people have no clue except classroom theories they crammed from foreign textbooks. KK is a lost course.
You are still here....eating fish and ugali....when will you open your eyes
Now I know better , beyond street know how..
Economics has no ukarabati its not hustler friendly it literally works as he has put it and that's the absolute truth.
Hehe, mama mboga anaskia tuu, short term, long term, crises, bilateral, DFI, markets, demand, open up markets, bottom up, deficit,......waah hapa hakuna kitu, ng'oo!!
I have read and compared comments here and comments on Gathoni Wamuchomba's interview. One is full of theories
Watu walipe taxes waache kucomplain tujenge nchi.Many folks complain don’t pay any shit.Mnataka barabara/stima etc mnafikiria zitatoka mbinguni.Thou Ruto need to eliminate corrupt folks by sending them to heaven
you can tell the journalists didn't understand 80 percent of what the prof was saying given the quality of the questions
This dude ever since he was mentioned adversely in the IMPERIAL BANK saga, has nothing much to get from him. A professional who does not hold optimal value by profiting from public money entrusted to a private bank. Kenyans need to always stand up and put these guys to answer.
Government has captured the situation room, we all know these Government talking points, the government emissaries are not been grilled as a expected just campaign rhetoric
I am so surprised that this man is the treasurer CS, no wonder this country is going to the dogs,Ruto has unique ability of finding and hiring clueless people like this treasurer guy and many others.
Mr minister, when you took power interests were 13pc , now it's 18pc, what do you mean that we don't know the taxes you have imposed on Kenyans?
The problem was they couldn't ask questions about past deeds .In the opening remarks he set the tone by only talking about the future ignoring the past .Which means we r not addressing root causes. He was very cunning in ignoring facts about past deeds and how they affect us .
Do you know what something about getting over with it? They said they have a plan to correct the wrongs of the past and they can't 🐏🐑
A CS mired in hustler borrowing. We are in trouble my people!
Is the Prof Human!!!????
Kweli urongo😅😅😅
Reminds me of Alan Greenspan, he would talk for hours without answering a single question.
No, no, wait, the pont is, alot of interfections running away from the questions.
These kind of ppl are letting generations down.
Hot air
If nothing changed and we don't understand what is happening but we see cost of running businesses to be high then he should explain why we are feeling so? He should explain why unemployment levels are going back to COVID-19 times. If nothing changed then things should remain the same.
The argument that people adapt to disposible income is null n void
Such a guy would be in prison in those first world nations
😂
the radio guys are being schooled on micro/macro economics. Kudos prof!!!
Lol... total Theory
It's simple that he is trying to make it. You don't export, you import a lot using the dollar the result is what we have currently.
Many people missed that point
How was the fuel anormally rectified? If it was ending up in peoples pockets, how was the bridge closed when it is rhe common mwanainchi paying for that cost of bridging and not the person whose pockets the revenue was ending up in..
Ama ulayman wangu haijaelewa vizuri?
Which taxes? Housing levy is a TAX!!
Thank you Ndu, you did your job well, Prof wasn't coherent