Connect with us

Hi, what are you looking for?


Treasury in Fresh Bid to Raise Kenya’s Debt Ceiling

NAIROBI, Kenya, Jun 11 – The National Treasury has embarked on a fresh bid to raise the debt ceiling from the current Sh9 trillion that was set by Parliament in October 2019.

Treasury Cabinet Secretary Ukur Yatani said the statutory debt limit has to be expanded to cater to the budget deficit in the financial year 2021-22 and the preceding years.

Yatani spoke Thursday in Parliament building when he read the Sh3.6 Trillion Budget for the 2021/22 financial year. 

In the National Budget Speech, Yatani said the country’s debt remains sustainable.

Despite its sustainability, Yatani however admitted that the economy’s debt carrying capacity had declined.

“Financing of the fiscal deficit will continue to be strictly guided by the Debt and Borrowing Policy and the annual Medium-Term Debt Strategy,” he said.

The Treasury CS assured MPs that the national government’s borrowings will be used only for the purposes of financing development projects.

Yatani said decisions on the day-to-day management and operations of public debt management shall be undertaken by the Public Debt Management Office to enhance efficiency, strengthen accountability and transparency.

1 Comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...