Kenya depletes fiscal buffers build over the last decade

Ministry of Finance office in Nairobi, Kenya (PHOTO: File)

Kenya's expanded appetite for expenditure in the last three years has depleted the fiscal buffers build during the last decade, a World Bank report has said.

The 2014 Public Expenditure Review titled, Decision Time: Spend More or Spend Smart, paints a picture of a government spending at a faster pace than its growing revenue. "There has been significant fiscal expansion during the last three years which has depleted the fiscal buffers built during the last decade. Kenya's overall expenditure reached 25.9 per cent of GDP in 2013/14," the report released yesterday says in part.