Govt urged to reduce domestic debt
06 February 2013, 16:57
Nairobi - Kenyans especially in the formal sector stands paying higher taxes in the near future if the government does not come up with a domestic savings framework apart from the current pension scheme.
Speaking to Capital News, Sammy Muvellah, Asset manager at the Zimele Asset Management said the current domestic revenues cannot service the continued debt increase.
Muvellah went on to add that the increased borrowing will continue to limit economic growth since the government will be paying huge debts all through from the low collected revenue.
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