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Browsing: Margaret Nyakang’o
- Controller of Budget Margaret Nyakang’o said the public debt stock increased by 3% from KSh10.58 trillion as of June 2024, to KSh10.93 trillion as of December 2024.
- Nyakang’o said major funds, including the Housing Fund, the Railway Development Fund, and the Petroleum Levy, are not part of the Consolidated Fund.
- She has raised concerns about the government’s reliance on overdrafts from the Central Bank of Kenya (CBK) to service both domestic and external debt.
Kenya’s Controller of Budget Margaret Nyakango is calling for the adoption of prudent strategies focused on debt management and revenue collection reforms to check the country’s piling debt. According to her, allocation towards servicing the public debt in the financial year 2024-2025 is set at KSh1.91 trillion, compared to KSh1.87 trillion in 2023-2024, with the country’s average time to maturity for public debt reducing to 7.8 years, down from 9.4 years in 2023.
The allocation comprised …