MPs allow government to borrow KES 1.3 trillion
09 December 2014, 19:39
Nairobi - MPs have allowed the government to raise the national debt ceiling to KES 2.5 trillion, up from KES 1.2 trillion.
The move was completed Tuesday after MPs approved a motion by leader of majority Aden Duale to have the ceiling raised to help the government source funds for development externally.
79 MPs voted for the motion, against 42 who opposed it and one absentee vote.
Duale argued that the increase would not see the country's Gross Domestic Product GDP worsen and would allow the government complete projects that will lift the country economically in future.
" This motion will see the country better placed in terms of key projects that need to be completed, he said in his submission to the house.
Those against the motion said that the move would place extra burden on Kenyans who are already suffering from huge debt.
Public debt is now at a staggering KES 2.3 trillion shillings but the government has insisted that the projects being undertaken will only see the country at a better place.
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