If parliament adopts a proposal by National Treasury Cabinet Secretary Ukur Yatani, the country’s debt ceiling may rise to Sh10 trillion, as the government wants to borrow more to fund its ambitious initiatives.
Mr Yatani wants parliament to change the Public Finance Management (National Government) Regulations of 2015 to raise the debt limit from the existing Sh9 trillion, according to a gazette notification dated May 26, 2022. This is to provide the government greater borrowing capacity to fund the Sh3.33 trillion budget for the fiscal year 2022/23.
