PUBLIC DEBT:–KENYA
By Hesbon Omolo
Our public debt has hit 4trillion mark as at March 2017.
Uhuru took over when it stood at 1.8 trillion.
He has thus borrowed a cumulative figure of 2.2 trillion .
Jomo Kenyatta and Moi both left us with a public debt of 800billion. Or 0.8 trillion.
Kibaki in 10 years borrowed 1 trillion.
This level of debt is 52% of our GDP.
Where is the RED FLAG::?
We collect about 1.2 trillion taxes a year
We spend about 0.6 trillion in debt finance
We send 0.33 trillion to counties.
We are therefore left with 0.27trillion to spend on Development and other recurrent expenses otherwise we deepen the cycle of borrowing…
If you collect 1.2 trillion but consistently prepare a budget of 2.2 trillion then you have only one option. Sink deeply in debt…
Debt will crash this nation
