Government is not broke: Rotich

Treasury CS dismisses media reports that the government is broke as "fake news"

National Treasury Cabinet Secretary Henry Rotich. File Photo | Jeff Angote | NairobiĀ  

IN SUMMARY

  • Yesterday, the CS said annual allocation to county governments will be reduced by Sh18 billion while that of the national government will be cut by Sh60 billion.
  • This, he said, was in a bid to trim the current budget following revenue shortfall of Sh84 billion.
  • He urged young women to take advantage of the Access to Government Procurement Opportunities (AGPO) and do business with the government.

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Treasury Secretary Henry Rotich has dismissed media reports that the government is broke as "fake news".

He cited the recent Sh200 billion Eurobond as proof, saying investors would not pump cash into the country if it was not doing well.

"How can the CEO of a broke company keep giving money for projects?" he pondered Thursday.

Yesterday, the CS had signalled to Senators that the annual allocation to county governments will be reduced by Sh18 billion while that of the national government will be cut by Sh60 billion.

This, he said, was in a bid to trim the current budget following revenue shortfall of Sh84 billion after the Kenya Revenue Authority (KRA) missed its collection targets.

READ: Kenya requests extension of Sh150bn IMF standby loan

ALSO READ: Rotich seeks national budget cut on Sh84bn revenue shortfall

Do business with govt

The CS, who was speaking at the 'Girls Matter' event at KICC in Nairobi today, urged young women to take advantage of the Access to Government Procurement Opportunities (AGPO) and do business with the government.

He also encouraged them to make use of the affirmative action funds available to give them loans to do business.

The funds, which include the Youth Enterprise Development Fund, Women Enterprise Fund and Uwezo fund, will be consolidated into the Biashara fund, Mr Rotich said.

The event was attended by about 2,000 young women, mostly entrepreneurs.

Invitation was through networking, hence no advertisements were made.

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