Strengthening the economy through strict implementation of the budget will be the main focus of the Treasury, acting National Treasury Cabinet Secretary Ukur Yatani has said. For months, Kenyans have been struggling financially with some accusing the government of over-borrowing.
Already, the country is struggling to finance the Sh6 trillion debt, most acquired during the regime of President Uhuru Kenyatta.
However, as a form of reprieve, Yatani has now promised to ensure expedited clearance of pending bills which have literally affected the financial markets.
"Delays in paying suppliers by both government and the private sector has also contributed to low liquidity in the market, hampering business activities. I want to reiterate my promise to see to it that both national and county governments settle all pending Bills owed to the private sector including SMEs expeditiously," he said.
The acting Treasury CS has also asked Kenyans to remain patient as his department seeks to ensure strict implementation of the budget to help in the circulation of money.
"As we cross into 2020, I promise to initiate and implement more borrowing policy framework to secure predictability. I also intend to restructure debt stocks by refinancing or substituting the commercial elements with concessionary ones. Review and re-negotiations of some loans,"