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Treasury CS Ukur Yatani has promised to release Sh39 billion to counties by Friday to avert shutdown as he lifted the lid on the financial crisis hitting the government. Yatani pledged the disbursement when he appeared before a Senate committee to explain the delayed releases, just a day after governors threatened to shut down the devolved units for lack of funds. They decried delayed cash disbursements amounting to Sh102 billion that has accumulated since January and affected critical services, payment of salaries and statutory deductions and clearance of pending bills. On Tuesday, Yatani came under fire from members of the Senate Finance and Budget Committee for treating counties like "stepchildren" while national government operations run normally. “Counties are easily ...

President Uhuru Kenyatta Jubilee administration borrowed an average of 3.37 billion every day in 2020. This is according the 2020-21 half year budget implementation review by the controller of Budget Margaret Nyakango shows the government borrowed 1.23 trillion between December 30,2019 And 30,2020 December. This pushed the country’s debt to 7.28 trillion from 6.05 trillion an increase of 20.5 per cent in a span of just one year. The CoB warning adds to the growing criticism and concerns by financial expert’s politicians and the general public about the Jubilee administration. Economists have warned that Kenyans should brace for higher taxes to avert a situation in which the country will not be able to meet its debt obligations. According to the report released by t...

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Treasury CS Yatani admits kenya in serious financial crisis.now admits

Uhuru’s government borrowed 3.37 billion daily.