Download our blog’s APP from Google Playstore using the link here>>>
Looking for a JOB? See the latest Jobs and Vacancies in Kenya HERE>>>
Saturday, November 19, 2022 – President William Ruto is on a mission to discredit retired President Uhuru Kenyatta by all means.
This is after he revealed how Uhuru borrowed billions in months without accountability and without clear plans to repay; something he said contributed to the high cost of living that Kenyans are facing today.
In the state documents tabled in Parliament on Thursday, Ruto, through the Leader of Majority Kimani Ichungwah, accused Uhuru of going into a borrowing spree in his last stint in office without a clear plan.
State documents show that the Jubilee administration borrowed KSh 26.25 billion every month.
The documents revealed that the Treasury inked six loans totalling KSh105 billion between May 1 and August 31, 2022.
This means that the Treasury borrowed KSh 854,148,675 daily for the four months tapped from bilateral, multilateral, and commercial creditors.
“The total value of the six new loans signed is equivalent to KSh 105, 060,110. One of the loans had been disbursed by the time of submitting this report,” the documents read in part.
The new loans come amid concerns over the ballooning debt that currently stands at KSh 8.6 trillion.
The revelations come at a time when the new administration has on several occasions claimed that it inherited a broke government.
“We are inheriting a dilapidated country with KSh10 trillion debts. All those who were against joining us in building the nation,” Deputy President Rigathi Gachagua was quoted as saying.
His comments were supported by Nandi Senator Samson Cherargei who claimed that President William Ruto found only KSh 93.7 million in the Treasury savings.
The Kenyan DAILY POST.