We Don’t Have Enough Foreign Currency To Import Oil~Gachagua Claims
Just weeks after being sworn in alongside his boss, President William Ruto, Deputy President Rigathi Gachagua has painted a bleak picture of Kenya’s economy.
DP Gachagua told Citizen TV during an interview at his Wamunyoro residence in Nyeri on Sunday that the situation is dire, but there is hope that the current storm will pass.
According to the DP, the country’s financial situation is so bad that the country did not have enough foreign exchange reserves to import oil on Saturday.
“Tumekosa maneno ya Foreign Exchange hata jana pale katika benki kuu hakukuwa na zile pesa za kigeni za kutosha kuagiza mafuta kutoka nchi za nje ,” Gachagua said.
“Wengine walidhani nimekosa nidhamu kusema manenyo yale mbele ya wageni, ni kweli tulijua kweli uchumi ni mbaya, lakini hatukujua kwa kiasi gani,”
The DP blamed the current situation on wanton looting by the previous administration, which he claims occurred three months before the current government leadership took power.
According to Gachagua, the situation has been exacerbated by a number of other factors, including unpaid bills totaling Ksh.500 billion.
According to the DP, the government was forced to halt the fuel subsidy program due to the cash crunch, which he claims would have brought the country to its knees in the long run.
“Ndio tulichukua hatua kusimamisha subsidy kwa mambo ya mafuta… tulikuwa tunatumia billioni 20 kwa mwezi…
“Kama tungeendelea nchi ingekuja kuzorota na kuangamia na tungekuja kusimama.. tushindwe kulipa mishahara, kununua mafuta.. chakula ..ningetaka kuwaambia wakenya kwamba hali ni ngumu lakini iko matumaini,” DP Gachagua added.
The DP, who expressed hope that the situation would be resolved, stated that the government’s top priority is to use available resources to increase food production in the country.