The International Monetary Fund has urged Kenya to add loans from state agencies as well as the pending bills in public debt to show the absolute picture of Kenya’s debt. On the grounds that the matter has been pushed aside by the government, Kenya National Chamber of Commerce and Industry (KNCCI), has called for the inclusion of pending bills in the country’s public debt.
Senior Counsel Fred Ngatia has shown support for the recommendation even as the business community said the delayed payments has led to the collapse of a number of businesses.
The National Treasury, has been urged to draw up a lean budget expenditure that encourages a favorable tax regime as an unrealistic budget will lead to over taxation, which will in turn discourage investors. Leaders have made emphasis on the need to prioritize proper lending policies and debt restructuring to help in making the development budget a reality.