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Kenya Loses a Quarter of Its Budget to Graft, Nation Reports

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Dec. 3 (Bloomberg) -- Kenya, East Africa’s biggest economy, loses 25 percent and 30 percent of its annual budget through corruption, the Daily Nation reported, citing Finance Ministry Permanent Secretary Joseph Kinyua.

The country’s spending plan for the fiscal year ending June 30, 2011, is almost 1 trillion shillings ($12.4 billion), the Nairobi-based newspaper reported today.

To contact the reporter on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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