We might have been paying for non-existent debts as Auditor General NANCY GATHUNGU drops a bombshell and exposes RUTO badly – Look!


Wednesday, July 17, 2024 – It is possible that we might have been paying for non-existent debts if the revelation by Auditor General Nancy Gathungu is anything to go by.

According to the Auditor General, Kenya’s actual debt position cannot be determined due to inconsistencies in records kept by the National Treasury and state agencies implementing programs with the borrowed funds.

In a new report released amid the raging debate on public debt, Gathungu revealed that the National Treasury and implementing agencies do not share information on loans, which might have led to paying for non-existent loans.

“This implies that the country’s true debt position may not be accurately reported,” she said.

It has also emerged that President William Ruto’s government has been paying billions after taking loans it is not ready to spend.

 As of the end of the financial year on June 30, 2023, a total of Sh55 billion had been paid for loans the government acquired before projects were ready to take off.

Had state agencies prepared adequately, taxpayers would have been spared the avoidable burden or the funds used to plug budget gaps.

The Kenyan DAILY POST

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