Debts to take Sh6 of every Sh10 collected from taxes

Treasury CS Ukur Yatani presents the 2022/2023 budget at the Parliament buildings, Nairobi on April 7,2022 [Elvis Ogina, Standard]

For every Sh10 that will be collected as tax, Sh6 will be used to repay loans starting July this year, highlighting life of a country that is living beyond its means.

National Treasury Cabinet Secretary Ukur Yatani yesterday unveiled a Sh3.32 trillion Budget that will once again see the government turn to debt to finance a deficit of Sh862 billion, which is likely to burst the current debt ceiling of Sh9 trillion.