Details have been exposed how Uhuru Kenyatta's administration illegally used 162.2 Billion borrowed money just months to William Samoei Arap Ruto's taking over.
According to the Nation, Jubilee administration used Sh162.2 billion of borrowed money on recurrent expenditure such as payment of salaries and utilities in the financial year to June in breach of the law. According to the Nation, this showed how the Government had little cash to spend on recurrent, biting cash crunch.
According to the Nation, Section 15(2)(C) of the Public Finance Management Act (PFM), 2012 prevents the government using borrowed money for recurrent expenditure but only to finance development projects.
This is to guarantee a return on investment that will enable repayment of the debt.
These Revelations come just days after William Samoei Arap Ruto was sworn with the Deputy President Rigathi Gachagua on record saying that they have inherited an economy which is almost collapsing.
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