The National Treasury is warning of a looming debt crisis as a result of global shocks and a slowdown in economic growth.
In its Draft 2023 Budget Review and Outlook Paper, the National Treasury debt service-to-revenue ratio will breach the 18 percent threshold in 2024 , 2025 , and 2026 .
"The debt sustainability analysis shows that Kenya's public debt remains sustainable as a medium performer in terms of debt carrying capacity," Treasury said. The government borrowed a total of Sh985.7 billion in the financial year 2022/23, comprising project loans of Sh137.6 billion, programme loans of Sh266.9 billion, commercial borrowing of Sh102.2 billion, use of IMF SDR allocation of Sh42.8 billion, and domestic securities of Sh437.5 billion.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kenya: Govt, World Bank to Strengthen Capacity of 35 Teachers Training CollegesThe government jointly with the World Bank is set to strengthen the capacity of thirty five Public Primary Teacher Training Colleges (PTTCs) to provide initial training for prospective teachers' primary schools.
Read more »
Kenya Exports First Consignment of Avocados to IndiaKenya has exported its first batch of avocados to India as the country seeks to expand its market in Asia.
Read more »
Kenya: Human Rights Groups Sue Inspector General Koome Over 2017 Police Killings in NairobiThe Kenya Human Rights Commission (KHRC), Muslims for Human Rights (MUHURI), and Khelef Khalifa, a Mombasa resident have jointly filed a lawsuit against Inspector General of Police, Japhet Koome, over alleged police killings that occurred in Nairobi in 2017.
Read more »
Treasury is between a rock and a hard place …'We are facing a difficult moment for government’s fiscal management.' says BLSA CEO.
Read more »
Kenya: Former Mungiki Leader Maina Njenga Released By Abductors in LimuruFormer Mungiki leaders Maina Njenga was released by his abductors after spending 24 hours with them.
Read more »
Africa: Kenya Hosts Global Conference On Tackling 'Sleeping Sickness' in AfricaMore than 300 participants from across Africa are meeting this week in Kenya, to discuss ways of tackling the African Trypanosomiasis, commonly known as sleeping sickness or Nagana.
Read more »