Treasury CS Njuguna Ndungu reveals Kenyan government is broke

AGENCIESApril 10, 2023
1,649

Treasury Cabinet Secretary (CS) Njuguna Ndung’u warned civil servants to brace themselves for further delays.

This followed Deputy President Rigathi Gachagua’s sentiments that the government was broke and struggling to pay debts.

Kenya’s Debt ceiling

Ndung’u said the government is currently going through a tight economic situation, caught in a financial fix.

Treasury CS Njuguna Ndung’u

In March 2023, National Treasury proposed raising the debt ceiling to above KSh 10 trillion of Kenya’s Gross Domestic Product (GDP).

Treasury PS Chris Kiptoo said they would cut the budget by KSh 133 billion for the 2023/2024 financial year if MPs don’t approve the raising of the debt ceiling.

Most civil servants proceeded to the Easter holidays without pay and are now protesting the delay. The government requires over KSh 58 billion per month for wages, salaries and pensions for civil servants.

AGENCIESApril 10, 2023
1,649

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