The deficit grew to 8.9 per cent of gross domestic product (GDP) in the financial year to last June. “We are clearly conscious of our limited fiscal space,” Henry Rotich, Treasury minister, said in a draft budget policy statement seen by Reuters on Monday. Kenya has been criticised for failing to cut borrowing after ramping up debt in the past five years. The funds went to fund a range of ambitious infrastructure projects, including a modern railway line from the Mombasa port. Sh4.48 trillion debtThe public debt stood at Sh4.48 trillion in September, up from Sh3.5 trillion in March 2015 and Sh2.1 trillion in November 2013.

Source: Daily Nation January 23, 2018 06:45 UTC