Al-Raya Newspaper: Prominent Headlines of Issue 191
The tax proposals submitted through the 2018 Finance Bill are designed to generate an additional Ksh 27.5 billion in tax revenue for the FY 2018/19. The 2018/2019 budget deficit of Ksh 558.9 billion (equivalent to 5.7 percent of GDP) will be financed by net external financing amounting to Ksh 287.0 billion (equivalent to 3.0 percent of GDP)
The NATO Summit Declaration was issued on the first day, and there was nothing surprising in it; the surprises came later. Trump has been chiding European countries for not contributing enough money for their defense since his 2016 election campaign, but at the NATO summit in Brussels on the 11th and 12th of July, he raised the temperature to boiling point.
Trump hit EU steel and aluminum with import tariffs at the start of June, and European Union countries unanimously backed a plan, on the 14th of June, to impose tariffs on $3.3 billion worth of U.S. products. The following day, Trump called French President Emmanuel Macron to push the European Union to negotiate trade barrier reductions, but the EU has ‘closed the door’ on negotiations.
Russia is covered by a wave of euphoria in connection with the rise in oil prices. On May 15, it reached $ 79.5 per barrel, for the first time since 2014. The Kremlin is thought to be inspired. A more detailed examination of the basics of what is happening is necessary.