We Should Stop This Borrowing Spree: Ruto On National Debt

Collins Ogutu | 1 year ago

Deputy President William Ruto has  on Tuesday has blamed the government for incurring debt, which he termed as reckless borrowing.

The United Democratic Alliance (UDA) presidential flag-bearer said if he wins next month’s election his government will renegotiate the country's debt with development partners. He  ruled out restructuring the nation’s debt.

" What we can't entertain is that we are in a position we can't service our debt. As Kenya Kwanza we will have a strategy to know how to manage our debts,"  said Ruto.

He explained that this will be actualized through additional taxes to lower debts.

Ruto claimed that during President Uhuru Kenyatta first term in 2013 the government borrowed nearly Ksh.2.2 trillion. He, however, took a swipe at Uhuru's final term in office for expanding the debt to a tune of Ksh. 4.2 trillion.

"We should stop this borrowing spree when we took power in 2013 our debt was at Ksh. 4.2 trillion but our handshake brothers in 2017 borrowed Ksh.4.2 trillion.'" 

He added that unbudgeted government projects has ballooned Kenya's borrowing. He claimed this projects has consumed a whopping Ksh.100 billion.

"When you look at our fiscal project we have too many that are not budgeted for. Example Uhuru Gardens project," said DP Ruto.

DP Ruto was speaking during the presidential debate hosted at the Catholic University of Eastern Africa.

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