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Treasury overdraft fees up 87pc on higher rates
The Controller of Budget (CoB) Dr Margaret Nyakang'o when she appeared before the departmental committee on Finance and National planning at the Continental House Nairobi on May 15, 2024.
Overdraft charges for the government increased by 87 percent in the year to June 2024, as cash flow challenges left Treasury tapping more emergency loans from the Central Bank of Kenya amid rising interest rates.
Between July 2023 and June 2024, it cost the State Sh9.6 billion in charges for the overdrafts it took.
