Kenya Kwanza Alliance led by the Deputy President William Ruto has said that Kenya’s debt has doubled since the 2018 handshake between President Uhuru Kenyatta and former Prime Minister Raila Odinga.
According to the Kenya Kwanza Alliance: Amani National Congress, Ford Kenya, and United Democratic Alliance, Kenya’s debt rose from Ksh. 4.5 trillion to Ksh. 11.7 trillion.
“Was the handshake a license to burdening Kenyans with punitive public debt, punitive taxation, punitive food prices and a high cost of living?” The ANC boss posed.
The alliance asked the Treasury Cabinet Secretary Ukur Yatani not to approve any new loans that would add to the country’s already ballooning debt.
“The CS for the National Treasury should not sign any new loans including floating sovereign bonds during this transition. The National Assembly and the Senate should reduce the budget ceiling to ensure a fiscal deficit that does not exceed Kshs. 400billion and check on the growing public debt,” he stated.
The Kenya Kwanza Alliance urged parliament to reject CS Yatani’s proposal, which he claims will push the country’s budget deficit to Ksh.12 trillion.