Debt repayments surpass State’s recurrent expenses

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Business Daily | by Constant Munda


Debt servicing costs have for the first time surpassed recurrent expenditures such as salaries, allowances and government administrative expenses, underlining the pressing burden on taxpayers.

Treasury secretary Ukur Yatani says in the latest disclosures total debt repayments, which are largely being driven by fast-maturing commercial and semi-concessional loans, amounted to Sh638.29 billion in the eight-month period through February 2021,

This represented a 32.13 per cent jump over Sh483.08 billion in a similar period a year earlier, powering debt service costs to become the single largest expenditure…

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