Mkikuyu- Akili timamu
- Feb 16, 2018
Treasury cannot spend or borrow money without taking the proposal in a finance bill to parliament. You dont even know how governments work..Parliament is not mandated to do such a thing, what they do is set laws on how much debt Kenya can accommodate and now the ceiling is at 60%(I am not sure), in that GOK can not borrow more than 60% of GDP. Borrowing or not borrowing is a responsibility purely on the National treasury which indicates in the Budget on how much they intend to borrow to plug budgetary deficits and how much they plan to raise locally and contingency plans in case they fail to raise enough local revenue. Parliament only comes in in oversight over how the money is used, debating and passing the budget and reviewing supplementary budgets. Or else every T-Bill and Bond would be passing through parliament for approval.
Yes every T bill issue for the year are all in the finance act of that particular year