State of Kenya’s economy a reflection of poor management of Finance docket

NAIROBI: Two institutions baffle me, the Treasury and the National Assembly. They baked and served a ‘feel good’ budget of Sh2.2 trillion and told Kenyans the economy would grow by 6.5 per cent, that the country’s debt level was sustainable and that the expansionist fiscal policy they pursued would create wealth.

Barely 90 days later, the cookie has crumbled. The Treasury coffers are empty, salaries cannot be paid, government projects are being shelved and the state is left scratching its head. For the public, interest rates have hit the roof, suppliers and contractors have not been paid, the shilling has lost value and business has slowed. The ordinary folks can all sense there is no money.