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Monday, January 30, 2023 – President William Ruto is having a very rough time convincing Kenyans to allow him to borrow a whooping Sh600 billion this year to help his government meet its obligations.
This is after Ruto rode on the platform of not borrowing anymore and promised to revive the economy to be self-sustaining.
During the 2022 campaigns, Ruto blasted former President Uhuru Kenyatta for overborrowing, something he blamed for the current economic hardships Kenyans are facing.
He vowed never to borrow again, but that promise may never hold as the president has resorted to borrowing again to sustain his government; something that has angered Kenyans.
Speaking in Narok County yesterday, Ruto clarified the amount the Kenya Kwanza government will borrow in 2023.
The President decried misinformation being spread through media outlets.
He dispelled rumors that the government had already borrowed Sh500 billion in four months.
“There are people who are spreading propaganda that the government is on a borrowing spree.”
“I want to assure Kenyans that I have put a cap on carefree borrowing which the previous administration had initiated,” Ruto announced.
Ruto further revealed that when he assumed power, he was shocked to discover that the 2022/2023 budget was to borrow Ksh900 billion.
“I slashed the amount and instructed that as a country, we will only borrow Ksh600 billion,” Ruto declared.
The Kenya Kwanza government announced that the Ksh600 billion will be used to complete pending infrastructure projects.
According to Ruto, the amount to be sourced externally had already been ratified for borrowing by the previous administration.
The Kenyan DAILY POST.
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