Kenya: Kenya Trapped in Borrowing Cycle As Debt Hits Billions of Dollars - Controller of Budget

Kenya: Kenya Trapped in Borrowing Cycle As Debt Hits Billions of Dollars - Controller of Budget

Nairobi -- Kenya's public debt has climbed to Sh12.82 trillion, with loan repayments now consuming 71 per cent of all government revenue, leaving just 29 per cent to fund salaries, public services and development projects, Controller of Budget Margaret Nyakang'o has told Parliament.

Controller of Budget warns Kenya trapped in borrowing cycle as debt hits Sh12.82tn

NAIROBI, Kenya, Jul 29 – Kenya’s public debt has climbed to Sh12.82 trillion, with loan repayments now consuming 71 per cent of all government revenue, leaving just 29 per cent to fund salaries, public services and development projects, Controller of Budget Margaret Nyakang’o has told Parliament. Appearing before the National Assembly’s Public Petitions Committee on Tuesday, Nyakang’o warned that the country’s mounting debt burden has severely c…