I understand Kenya’s national debt is about to hit 9trillion.
Huku kwa TeeFee naona IChungwa akisema they are going to review borrowing policies ndio Kenya iwe na many other borrowing avenues by allowing countries barred from lending to Kenya start doing so.
Is that Nigga thinking,why do we need more loans while we are struggling to service the one we have.
hii story, utadevelop headeck ya bure n’ u kan du nuttin’
We are not even at Kshs 6 trillion. Your source of news ni gani?
Basin
https://www.theafricareport.com/11499/kenyas-domestic-debt-is-spiralling-out-of-control/
Not yet there but we might hit the 9trln mark before the current president term is over.
Basin yenye mamako hukojolea usiku.Anakojoa tu mashida
Ile imeandikwa kwa makazeti ni 5.4 but mnajua kuna ile fiche
The rate of debt accumulation is 2.5 billion a day which translates to slightly less than one trillion per year. Uhuru has 3 years left, so about 2.7-3 trillion total is what he needs to run the country. 5.4-6+2.8= 8.2 trillion by 2022, give or take.
There is no secret debt. Debt has to be known for it to be paid. Nothing is paid if it is not in the budget read in the parliament.
They want to change the law so that they can increase the percentage of debt to GDP ratio. Currently they are not supposed to blow past 50% point on debt to GDP ratio.
Debt levels have tripled from Sh1.8 trillion in June 2013 to Sh5.89 trillion as of June this year. Treasury expects it to rise to Sh6.4 trillion by June 2020.
Kenya’s public debt as of June sits at Ksh.5.8 trillion or an equivalent 65.2 percent of GDP as per the analysis of provisional 2018 economic insights by the Kenya National Bureau of Statistics (KNBS) and the National Treasury.
If you read again my initial question,my interest is not on the amount per se but why create more avenues for debt instead of working to.pay up and reduce the debt
Because it means reducing govt expenditure, which is not good for political reasons. Uhuru just wants to finish his term in peace whoever follows him to inherit mess
Milking the cow overtime and quitting when it’s about to die, then you leave the next shepherd with a dying cow and no money for the vet. Sad.