Mu­davadi tells MPs to cap Ju­bilee’s bor­row­ing

The Star (Kenya) - - Counties Western -

ANC leader Musalia Mu­davadi yes­ter­day urged the Na­tional As­sem­bly to re­view the debt ceil­ing to avoid sink­ing the coun­try into bank­ruptcy.

In De­cem­ber 2014, the MPs pushed Kenya’s debt ceil­ing from Sh1.2 tril­lion to Sh2.5 tril­lion to al­low the gov­ern­ment to bor­row more funds to fi­nance in­fra­struc­ture projects.

“The move by the MPs was wrong and they should ex­er­cise their man­date on bor­row­ing caps to rein in this rogue gov­ern­ment,” he said in a state­ment.

Mu­davadi’s con­cerns come af­ter data from the Cen­tral Bank of Kenya in­di­cated that pub­lic debt rose to Sh3.62 tril­lion by June from Sh1.8 tril­lion when the Ju­bilee ad­min­is­tra­tion came to power in March 2013.

Newspapers in English

Newspapers from Kenya

© PressReader. All rights reserved.