Report reveals govt's lost billions
09 October 2013, 09:12
Nairobi - A report by the Auditor General has revealed that only KES 55.2 billion out KES 920 billion total government expenditure for 2011/2012 was accounted for.
This means that more than KES 338 billion was unaccounted for even as the government tries to get more revenue from Value Added Tax (VAT), The Standard reports.
The report, which was released by Auditor General Edward Ouko, further revealed that the expenditure of KES 561 billion was also not fully accounted for in the budget.
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