By KIARIE NJOROGE
Kenya spent Sh41.9 billion on its loan repayments in
July exceeding the total amount used to run government operations in the
first month of the financial year, underlining the debt burden on
taxpayers.
Treasury data shows that all the ministries, departments and
agencies spent Sh39.2 billion in the first month of the fiscal year.
The ministries are yet to start spending development cash.
Kenya has in the last three years been borrowing
more, especially from China mainly to finance infrastructure projects
and cover budget deficits but the growing loans have raised questions on
whether the economy can sustain the repayments.
Kenya received a Sh60 billion syndicated loan from
China last month pushing its total bilateral loans to Sh280 billion,
triple its position two years ago.
No comments :
Post a Comment