“The fiscal policy stance over the medium term aims at supporting the government’s Bottom-Up Economic Transformation Agenda through a growth-friendly fiscal consolidation plan, designed to slow down the annual growth in public debt,” CS Njuguna said. The total public debt is projected to reach Sh11.5 trillion by June 2025, on account of expanding fiscal deficit.ĭuring his budget speech on Thursday, National Treasury and Economic Planning CS Njuguna Ndung’u said the government will continue to support economic recovery by pursuing prudent macroeconomic policies, geared towards reducing debt vulnerabilities and supporting sustainable and inclusive development. The gross public debt is comprised of 50 percent external debt and 50 percent domestic debt. The Present Value (PV) of external debt-to-export and Public and Publicly Guaranteed (PPG) of debt-service-to-exports indicators remain above the thresholds over the medium-term projection period.Īs the economy recovers from global shocks and fiscal consolidation continues, Kenya’s debt indicators are expected to improve, ICPAK noted. The country’s debt remains, according to financial experts, but is categorized as facing high risk of debt distress (IMF Country Report No. Kenya’s debt stood at Sh9.4 trillion as of March, Central Bank of Kenya (CBK) data shows. “This is a role that parliament should take seriously,” the statutory body of accountants said. It has expressed doubts if the reforms go deep enough to arrest private vested interests in the management of debt. “Whereas the government has outlined several measures to mitigate debt the crisis, including policy reforms, fiscal consolidation, measures to reduce waste, debt moratorium with external lenders, political accountability remains low,” ICPAK said in a post-Budget statement on Friday. This includes a reduction in the country’s fiscal deficit by increasing tax revenues to tame borrowing, in funding the Sh3.7 trillion budget for the next financial year, starting July 1.Īccording to the Institute of Certified Public Accountants of Kenya (ICPAK), oversight over debt management and reforms remains weak and crucial debt information is inaccessible. Molly Mumbi Maina is a broadcast journalist and vice chair of the Association of Grassroot Journalists of Kenya.Parliament should take oversight over debt management and reforms seriously, accountants now say, even as the government moves to implement measures to mitigate a debt crisis. She is currently a writer with the Nyanza Review, an online magazine.įlorence Chepkorir is a Radio News Editor at Egerton University Radio (Nakuru) and is pursuing her MA (MJAC) - Master of Arts in Journalism and Communication at Egerton University.Ĭastiel Noanne runs The Millenial News a website aimed at addressing issues for Millennials and Generation Zs. Sarah Otiende is a journalist with a zeal for writing feature stories. She is currently in search of answers on multimedia and digital content production. Margaret Wanjiku is a broadcast journalist with Nation Media Group in Nairobi. Hellen Shikanda is a Health and Science reporter at Nation Media Group in Nairobi, Kenya. She is the founder and chair of Simama Dada, a women's community based organization in Siriwo, Siaya county. Harriet Atyang is the Administrator at Kenya Community Media Network. She is a post-production specialist primarily focused on editing and curating visual content. Margaret Chesoni founded the production company Neolight Productions. It uses the power of media and data to provide a platform for children to participate in developing solutions to the challenges that face them.įridah Mlemwa is founder of the digital platform africanauthograph and has worked with a number of multinational media houses. Jennifer Kaberi is the founder of the online platform Mtoto News. She looks forward to reclaiming her journalistic skills and abilities through the mentorship program. Irene Olwande Otieno is a print journalist who enjoys production and editing. She takes a keen interest in telling stories that can invoke social change. Eunice Mwaura is coordinator of the media platform Viceversa Global.
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