With the second Supplementary Budget seeking to increase recurrent expenditure by Sh23.2 billion and reduce development expenditure by Sh40 billion, PBO is of the opinion that the increased spending on debt should be a major concern. There has also been an increase of Sh5.1 billion in the payments for domestic debt. By JOHN NGIRACHUMore by this AuthorHigher interests on debts and redemptions have pushed up Kenya’s payments for debts by Sh27.6 billion, forcing Treasury to reduce development spending, according to an analysis of the Supplementary Budget currently before the National Assembly. There has also been an increase of Sh5.1 billion in the payments for domestic debt. With the second Supplementary Budget seeking to increase recurrent expenditure by Sh23.2 billion and reduce development expenditure by Sh40 billion, PBO is of the opinion that the increased spending on debt should be a major concern.

Source: Daily Nation April 27, 2018 10:17 UTC