Kenya’s public debt is now more than 5 trillion shillings with each Kenyans owing debtors at least Ksh130,000.
According to statistics by the National Treasury, by the year 2022, Kenya will be owing to the world at least 7.2 trillion shillings.
Many Kenyans believe that the government should find means of dealing with those involved in corrupting public funds before we think about borrowing again.
It has emerged that the Kenyan government borrows money to pay debts, where it spends approximately 70% of what is collected on the debt repayment and 30% to other expenses.
” There is need to cap the amount the government is borrowing. We are currently in a Position that any Government shouldn’t be. We currently owe Ksh. 634.4 Billion to China alone and yet we are still headed there for another ksh. 368 Billion loan. This is sad!” a concerned Kenyan said.
President Uhuru Kenyatta’s trip to China alongside Opposition Chief Raila Odinga continues to draw mixed reactions among Kenyans and a number of Political leaders.
They now want the uncontrolled borrowing by Uhuru’s administration.
Here are some of the views: