201501015 xnews

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THursday, OCTOBER 15, 2015 | www.x-news.co.ke

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Massive theft in the counties to be revealed Kakamega senator bonny Khalwale who chairs the public accounts committee of the senate says they will expose looting in the devolved units from next week

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NEWS

barcelona in new attempt to register player arda turan

manchester city post maiden profits in Mansour era

‘We are not broke’

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ational Treasury Cabinet Secretary Henry Rotich has today denied rumours that the government is broke, telling MPs that the current financial crisis in the country is due to the mismatch between resources and the available funds. Spending in various government departments has stalled in a cash crunch that forced MPs to summon the CS for explanations.

And when he appeared before the National Assembly’s Budget and Appropriations Committee, Rotich said there can never be enough money and that the government only needs to prioritise its demands. “There will never be enough money. We just need to prioritise our demands,” he told the committee chaired by Mbeere South MP Mutava Musyimi.

He linked the challenges to the depreciation of regional currencies including South Africa’s Rand and the Kenyan Shilling. Rotich said development in Sub-Saharan Africa reduced from 4.5 per cent to 3.8 per cent and that the global growth also reduced from 3.7 per cent to 3.1 per cent. CONTINUED ON PAGE 2

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top story Are the Kardashian women a curse to their men?

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bet hip hop awards MONEY: Treasury Cabinet Secretary Henry Rotich displays the Budget shortly before he presented it to Parliament in June. The Minister has today dismissed suggestions of a cash crunch in government saying the country is not broke.

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