Debt payments gobble up 55pc tax

Treasury Cabinet Secretary Ukur Yatani during a past briefing in Nairobi. PHOTO | DIANA NGILA | NMG

The Treasury spent Sh81.06 billion more on debt repayments in the first four months of the current financial year than a year ago, latest exchequer statistics show, largely driven by dues to domestic creditors.

Debt repayments took up Sh276.17 billion in the July-October period, acting Treasury secretary Ukur Yatani says in the Statement of Actual Revenues and Net Exchequer Issues, a 41.55 percent jump from Sh195.11 billion in the same period a year earlier.

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Note: The results are not exact but very close to the actual.