- FKE says economic situation in the country is getting worse day by day.
- Report on the Bloomberg business news outlet that ranked Kenya’s stock exchange as performing the worst in the world
Federation of Kenya Employers has put on spot the Kenya Kwanza Government saying it’s economic policies to revive the Kenyan economy and offer respite on the cost of living are not working.
FKE Chief Executive Officer Jackline Mugo while making her presentation before National Dialogue Committee says economic situation in the country is getting worse day by day, and that government must re-think in their tax policies.
“Taxes are being levied on consolidated pay away from traditions on basic pay …that has had a major impact…you tax employees on allowances, leave etc.,” Mugo said.
According to FKE a report on the Bloomberg business news outlet that ranked Kenya’s stock exchange as performing the worst in the world was a shocker.
Nairobi Securities Exchange Equity turnover jumped from Ksh.67million to Ksh.227.6 million. Despite this, shares traded went down leading to a drop in the 20-share index as well as the all-share index.
Meanwhile Azimio Economic Council Chair Nderitu Muriithi warned that the country’s on impending dire consequences and that the country would not be able to repay its debts on time.
“Experts agree we are in dire debt distress. The debt default is looming and all these have put our country on a terrible trajectory,” he said.
Kenyans on Economy
“It has not been okay prices of common commodity especially food and fuel is up and nothing seems to be working.We had been brought to hand to mouth structure of survival.Something should to be done very first before everything goes out of hand..I mean we are tired of this regime because what they have managed to achieve so far is to force taxes on our throat.,” James Kioko CBD Nairobi Trader.
“Vijana hawana mboka issue imekua ni kutafua wera without avail,na tuko juu ya dimanga kila yutman yuko juu yam awe.Gava ilanglie vijana crime imewzidi juu kila kitu iko juu na hakuna wera.’’ John Mugo youth leader.