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New President inherits half a trillion shillings of unpaid bills
President-elect William Ruto making his address during the inaugural meeting with Kenya Kwanza leaders at his official residence in Karen on August 17, 2022. PHOTO | JEFF ANGOTE | NMG
Kenya’s new President will inherit more than Sh500 billion owed to suppliers and contractors by ministries and State agencies in bills that have exposed many small and medium-sized businesses to closures and auctions.
Latest Treasury statistics show pending bills climbed to Sh504.7 billion at the end of the last financial year in June, a 40.39 percent jump over Sh359.5 billion the previous year, making it the biggest annual jump on record.
