The Treasury wrote off Sh37.06 billion debts by struggling parastatals in the year ended June 2021, exposing the deteriorating financial health of the State-controlled firms tasked with strategic roles in economic development.
The on-lent loans which were written off to keep the State-backed firms afloat were part of the slightly more than Sh74.01 billion that were in arrears in the review period, comprising Sh38.03 billion in principal and Sh35.98 billion in interest.
