Finance Ministry allocates 25 trillion shillings for loan servicing in 2024/2025
The Ministry of Finance has set aside 25 trillion shillings in the 2024/2025 financial year to service loans acquired by the country. Some of the loans to be serviced include those for which grace periods have ended, such as those for the Isimba and Karuma Hydro Power stations.
A section of MPs sitting on the Committee of Finance have described the country's debt situation as a debt trap. However, finance ministers say they are able to manage the country's debt.
They appeared before the finance committee of parliament to defend their ministerial policy statement for the 2024/2025 financial year.
