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Thursday, March 26, 2020 - A renowned Kenyan economist has poured cold water on the economic stimulus package announced by President Uhuru Kenyatta to shield Kenyans from the effects of the coronavirus pandemic.
On Wednesday, the Head of State announced a raft of measures including the reduction of Value Added Tax from 16 to 14 percent to cushion Kenyans against economic shocks brought by the pandemic
But according to economist, David Ndii, Uhuru’s move is pedestrian because there is no way a Government can announce tax breaks without cost-cutting.
“Yet govt proposes tax breaks without cost-cutting.”
“I am at a loss as to how this is a rational responsible policy for a govt that was in a fiscal crisis before the COVID-19 shock, or how tax breaks translate to food on tables of ordinary people who’ve lost incomes and jobs. 6/7,” Ndii said immediately after Uhuru’s dismal speech.
Ndii, who is an Oxford University-trained economist, urged Uhuru to follow the Canadian way where the Government is unveiling lifeline funds for workers and small businesses.
He concluded by urging President Uhuru Kenyatta and his deputy, William Ruto, to resign and let him revive Kenya’s economy in one week.
The economist said that if he fails to revive the economy in one week, he is ready to be executed in public like a criminal or a rapist.
“Tell them to resign or step aside.”
“Give me one week and it will be running.”
“If not, I’m ready to be executed in public. And that is a dare,” Ndii said.
The Kenyan DAILY POST