Mudavadi tells MPs to cap Jubilee’s borrowing
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.