Nairobi, Sept. 16 -- The Jubilee administration looks set to borrow an average of Sh2.5 billion daily before the end of President Uhuru Kenyatta's final term in August 2022, highlighting its growing appetite for foreign debt.
Treasury chiefs project in a draft Budget Review and Outlook Paper new loans of Sh1.87 trillion in the two years to June 2020 or Sh2.5 billion daily, pushing Kenya's debt to Sh8.06 trillion.
If that comes to pass, Mr Kenyatta will have borrowed at least Sh6.1 trillion to implement his manifesto in 10 years in power having inherited slightly more than Sh1.89 trillion in June 2013.
The Jubilee administration has ramped up spending since 2013 to build new roads, a modern railway, bridges and electricity plants, driving...