Hard truths. Bold Insights. Real talk.
Kenya’s Controller of Budget warns in Nairobi that missed fiscal targets, revenue shortfalls and overspending are driving higher borrowing and debt service, squeezing funding for healthcare, businesses and public services.
Dr Kiptoo said the economy is performing better than it did three years ago, despite setbacks experienced in 2024.
Speaking on Radio Generation on Tuesday, Muigai said debates over economic growth, debt, and national development would be largely unnecessary if both leaders and citizens adhered to the Constitution. He criticized political manifestos as repetitive promises, noting that most pledges on education, healthcare, manufacturing, and support for small businesses are already guaranteed under the law.
According to the CBK data presented by Governor Kamau Thugge, the national debt stood at Sh8.7 trillion during the 2021/22 financial year, coinciding with President Ruto’s first year in office.
The Auditor-General’s report, submitted to the National Assembly Committee on Public Debt and Privatisation, revealed that several loans were issued without involving the Department of Government Investment and Public Enterprises, which is mandated to participate in the lending process.
The appointment follows a petition filed by nine individuals, led by Busia Senator Okiya Omtatah, targeting debts accrued between the 2014/2015 and 2021/2022 financial years.