Tenderpreneurs who have been working in cahoots with Government officials, bagging all State tenders as they come must be quaking in their boots as the austerity frenzy catches on. “Some of those are ongoing,” said Jane Mugambi, secretary to the now-defunct State Corporations Advisory Committee (SCAC). And now, President Kenyatta has frozen all new projects, sparing only those which are aligned to his Big Four agenda. “But the fiscal situation in terms of the size of the budget deficit and debt distress is worse,” said the controversial economist. All these measures were aimed at bringing fiscal deficit to five per cent in financial year 2017/18 and debt levels to 45 per cent.

Source: Standard Digital July 30, 2018 21:00 UTC