Government borrowing has been the topic of the day since President Uhuru Kenyatta and Deputy president William Ruto got in power. Much has been said and no action in place. Experts report says that much borrowing affects the economy of a country.
According to the Standard Digital, cash borrowed in the first 7 years by Mwai Kibaki and president Uhuru Kenyatta leaves a worrying moment to the public. It was reported that record hold it that president Uhuru Kenyatta has borrowed over 5.17 trillion within 7 years while Kibabi borrowed 244.8 billion during his tenure.
This sounded like a shock to many Kenyans. Most of the political analysts says that this could be one of the worst government in place as compared to Kibaki’s government. It was noted that Kibaki’s government was one of the best government ever with less borrowing.
Analysts says too much borrowing will put the country at risk at one point. They argue that the government may be attempted to use borrowed money even to pay some outstanding loans. It was clear that this may be a serious burden to the tax payers at long run.