The national treasury is inviting members of the public to submit comments on the Public Finance Management Bill 2015 Amendments. The amendments seek to set a limit on total public debt, subject to parliament’s approval.
https://platform.twitter.com/widgets.jsPUBLIC NOTICE:Proposed amendments to the public finance Management (National Government) Regulations,2015,Section 26 (1)(C) And Section 196 (1) pic.twitter.com/SaPVAGqATa
— The National Treasury and Planning (@KeTreasury) September 26, 2019
If passed, parliament to set limits on public borrowing. The limits denote public debt in absolute figures as opposed to a percentage of the GDP. According to the Public Finance Management Act of 2012, Kenya will not be able to borrow beyond its limit unless authorized by the National Assembly.
However, the debt limit allows Kenya to continue accessing concessional funding from multilateral and bilateral partners to finance development programs.
SEE ALSO: Kenya’s debt likely to hit KSh6 trillion by next year
Acting Treasury CS Ukur Yattani invites Kenyans to submit comments and proposed amendments on the bill through mail or post before 5 PM on 4th October 2019. Additionally, Kenyans can email their concerns to [email protected].
