
Kiharu Member of Parliament has again issued an alert on the state of Kenya’s debt, which he says is worrying.
Nyoro who was speaking during a working tour of his constituency, criticized the government for deceiving Kenyans that the country was managing its debts.
He asserted that the current public debt was almost hitting 900 billion shillings with over 1.1 trillion to be used in clearing interest rates.
“The public debt in Kenya is in a level of crisis. We can go out there and become defensive but the reality is on the ground that out of the proposed budget, Over 1.1 trillion will cover for interest rates, but we are eyeing in a 900 billion debt. We cannot continue digging a hole but in our utterances we appear that we are doing proper debt management.”
Ndindi Nyoro who previously served as Chairperson of Budget and Appropriation committee in the National Assembly, warned of excessive borrowing that would plunge the country into a devastating debt crisis.
The lawmaker faulted the President Ruto led regime for mastering the art of borrowing with little being put into development. He called on the government to emulate former President Mwai Kibaki’s reign.
“If we are borrowing at the same level that Kibaki borrowed for 10 years, then we must be seeing development that Kibaki did in 10 years every single year in Kenya,” he stated.
His remarks comes a week after he urged President Ruto to minimize borrowing and find ways of managing debts. He called on the valuing of government assets which when managed well, would provide equivalent funds the country borrows externally.