Treasury CS JOHN MBADI exposes RUTO badly as he reveals how he went rogue and illegally spent a whopping Sh415 billion

Thursday, October 3, 2024 - Treasury Cabinet Secretary John Mbadi has disclosed how President William Ruto spent Ksh415 billion against the law.

In a report, Mbadi revealed that out of the Ksh766 billion borrowed by Ruto’s government in the 2023/2024 fiscal year, it spent Ksh415 billion on recurrent expenditure while allocating only Ksh350 billion on development.

The move by the government to spend more on recurrent expenditure rather than development breached section 2C of the Finance Management Act of 2012.

The Act sets the minimum threshold for recurrent expenditure to avoid spending all revenue and debt on financing cyclic activities.

According to the 2024 Budget Review and Outlook draft paper released by the CS, the Ksh415 billion was an 82 per cent rise compared to the previous period when the government spent 227 billion on recurrent expenditure as per the law.

The latest report by the National Treasury highlighted the main reasons behind the government's missed tax collections amidst spending pressure.

The Kenyan DAILY POST