Time to cut non-essential spending and wastage

During July and August, the first two months of the current financial year, the government borrowed Sh374 billion to plug a budget hole occasioned by Covid-19 pandemic. The new loans pushed the country’s total debt to more than Sh7 trillion, slowing sending the debt level to near unsustainable levels.

Kenya’s debt has officially clocked Sh7 trillion after the National Treasury borrowed some Sh374 billion to plug a budget hole occasioned by Covid-19 pandemic. Economic disruptions occasioned by stringent containment measures forced Treasury to go on a borrowing spree. Tax revenues have been unimpressive, yet more than any other time the government is expected to stimulate the economy.