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Maybe Eurobond was spent on pay

UREPORT
By Githuku Mungai | January 11th 2016

There are Press reports that the whole Eurobond money was received in Kenya. That is good news. In fact, we all know that that is what Treasury Cabinet Secretary Henry Rotich has been saying all along.

Now the Auditor General is being asked to check how the ministries spent the money. It may turn out that the bulk of the money went into recurrent expenditure.

And this may explain why there seems to be no identifiable project which was funded using the Eurobond money. Let's not forget that the Government has a huge wage bill.

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