How much Kenya has borrowed: President Uhuru Kenyatta has said that he will continue to borrow money.
The president said this during a roundtable interview with the media that was conducted in Mombasa on Friday night.
The president said that the Jubilee government’s obsession with huge borrowing should not be a cause of concern.
“I will continue borrowing. We don’t borrow to consume but for development of infrastructure,” he said.
The debt question put the president at loggerheads with popular journalist Mark Masai after the journalist dismissed the president’s rejoinder on Japan’s GDP to debt ratio.
Mark Masai: Is it true that we have the port as a collateral for the China-Kenya debt?
Uhuru: What is Japan’s GDP-Debt rario?
Mark Masai: I am not in Japan. Not interested.
The President has recently been claiming that his only concern would be if the loans Jubilee has been taking are spent on recurrent expenditure.
He further says that if development is going to happen in the country he must continue borrowing.
Currently, Kenya’s debt stands at over Sh. 5 trillion and is expected to hit between Sh. 7.2 trillion and Sh. 10 trillion by the time Uhuru leaves office. The impact of the loans on the economy, though, has left many Kenyans wondering where and how the borrowed money is utilized.