I'll Continue Borrowing for Development, President Uhuru Says
President Kenyatta says he will continue to take loans to fund development projects in the country.
Responding to Amani National Congress leader Musalia Mudavadi's request to stop his administration's borrowing spree, the President says it is impossible for the country to realize development without borrowing.
“Mmeniambia nisikope lakini mnataka barabara…Hata mzee alikopa ili apate karo ya kumpeleka Kalonzo shuleni! Haja ni pesa isiibiwe, isitumiwe kulipa mishahara," Kenyatta said while speaking at the burial of Wiper leader Kalonzo Musyoka's father Peter Mairu, in Tseikuru, Mwingi, Kitui County.
“We must borrow in a manner that we are sure we can service the debt, be cautious and prudent. We are borrowing not to consume, but to grow."
Kenya's current public debt stands at Sh5 trillion and the National Treasury projects it will hit Sh7 trillion by the time Kenyatta exits office in 2022.
The International Monetary Fund (IMF) and economic experts have warned that the debt could reach unmanageable levels.
President Uhuru however maintains that he is not bothered by Kenya's debt since money borrowed is used to fund infrastructure development which is a priority for the country.
“What would worry me is if the debt that we have incurred has gone to recurrent expenditure like salaries. But we have utilised that debt to close the infrastructure gap and anyone coming to Nairobi after 10 years will be able to know,” said Kenyatta during an interview with CNN's Richard Quest.
Comments
From my Experience: It's…
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From my Experience: It's better to LEND than Borrow; make Interest than Pay INTEREST.
SMFH!!!
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SMFH!!!
Fuck this nigga for putting…
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Fuck this nigga for putting the nation in debt and risk of losing natural resources and assets!
Uhunye you have lots and…
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Uhunye you have lots and lots of ma-power that you can do whatever you want. M-Pigs are busy obscessing over their foods in parliament cafeteria instead of checking your powers. Since you have so much power you can put them on diet of Githeri,boiled arrow roots and water. Meanwhile continue to sell us to the Chinese.
yes mr president aslong the…
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yes mr president aslong the cash borrowed build roads,connect citizens with electricity,ports n airports expansions,manufacture n Agriculture then i agree with you that borrowing is a must unless pple complaining of debt can vomit out the infrastructure so we can find them existing??Singapore,malaysia or Asian tigers which we copy or want to be like have borrowed to their neck n invested heavily in the so called infrastructure n todayvthey can see the benefits of it.But it's sad some guys especially the one in diaspora have continued to see one inch like a fly yet the countries they reside n want their family's n cousins to come to have borrowed heavily to b where they are eg UK,Usa,Australia France.Borrow the cash invest heavily on the right things n many will thank u later?But if u borrow for handshakes idiots to eat then we will start the revolution.
Am i right to say that…
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Am i right to say that Kenyans won't be taking all those loans if they don't employ idle people?They won't be bollowimg if their money is not stolen.But the problem is Uhuru is borrowing to build personal malls and resdential properties then Kenyans repay the loans.The same money we use to pay loans would be used directly to fund his ghost development.Uhuru should know sio waKenya mafala.
That face looks like pombe…
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That face looks like pombe kila saa.
How about you account for Eurobond then you can tell us about pesa isiibiwe. This from the most corrupt government.
Bure kabisa
Wewe (Uhuru) na Ndugu yako…
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Wewe (Uhuru) na Ndugu yako Ruto mna mabilioni ya pesa mifukoni mwenu. Je, pesa hizi mlizitoa wapi?
Nawaombeni kwanza mtumie mabilioni ya hela zenu kwenye miradi (projects) ya kabla hamjaendelea na uraibu wenu wa kukopa hela ovyo!
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