The Treasury will cut the budget for the next financial year by at least Sh133 billion if Parliament rejects a proposal to amend the current debt ceiling of Sh10 trillion with a new measure based on the gross domestic product (GDP).
Treasury Principal Secretary Chris Kiptoo told MPs that it has initiated the process of amending the debt ceiling from a numerical number of Sh10 trillion to a debt anchor of 55 percent of the debt to the GDP in present value terms.
