President Ruto reiterates his plan to tackle Kenya’s debt
President William Ruto has once again reiterated his plan to tackle the country’s ballooning debt by trimming government spending by KSh. 300 billion this year.
Speaking during the funeral of Jack Gachagua, Deputy President Rigathi Gachagua’s brother, the President said his administration will within the next two months table a revised budget for approval by parliament.
He said the country borrows about KSh. 900 billion to finance its operations something he said is unsustainable.
“We must start the journey of reducing our borrowing,” he said.
The President said his team is in the process of evaluating projects that can wait while promising to complete road and water projects that have already begun. He has also indicated he will direct more funds towards agriculture.
In his address to the bicameral sitting of parliament last week, the President said he would table a three-year-long plan public debt reduction plan to Parliament.
He promised to rein in public debt, which has more than tripled by KSh7 trillion since outgoing President Uhuru Kenyatta assumed office in 2013, pushing against the debt ceiling.
Today he said, “We have a job ahead of us. We will do it to ensure that in the end, our children do not inherit debt from us.”
While quoting the Bible, Ruto said, “A good man leaves an inheritance for his children’s children. It does not say, a good man leaves a debt for his children.”
The President also urged all arms of government to work effectively to provide services to Kenyans.
“The Executive has a role to play. The legislature has a role to play. The Judiciary has a role to play. We must harmonize to deliver prosperity to every Kenyan.”
He also eulogized Jack as a Kenyan who contributed to both the country and his family.
“Poleni sana kwa kumpoteza ndugu yenu. Tumejua amekua mtu mhimu kwa familiar yenu. Huyu ni mkenya aliyekua na mchango wake kwa familiar na taifa.”
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