Our borrowing will not exceed Sh600 billion this year – Ruto
President William Ruto has maintained his administration will continue borrowing “irrespective of what and who writes what”.
He, however, said the borrowings will be at a slower rate unlike it was during former President Uhuru Kenyatta’s administration.
He stated that he has capped the total amount of borrowing this year at Sh600 billion.
“When I came in we said we have to reduce on borrowings, we have now cut down Sh300 billion and we are going to continue reducing it every year until that time when our budget is sustained by our own taxes,” said Ruto.
Defending his move to take loans which currently stands at Sh137 billion in the last three months, Ruto said he is not going to be distracted by anyone.
He observed that when he took to power he made a resolve to have the total borrowings reduced from Sh900 billion.
Ruto noted that aimless borrowing was a trap that can ruin the country’s economy.
Ruto was speaking during an interdenominational church service in Narok.
Kiharu MP Ndindi Nyoro had earlier criticized the media over what he termed as misreporting on the loans the government has so far borrowed.
Without mentioning names, Nyoro instead called for factual reporting, saying not even a quarter of the money stated had been borrowed as alleged.
“When you want to write about loans it is good to tabulate for Kenyans to see, andika wenye wamekopesha, ile siku wamekopa na uandike ni pesa ngapi so that we have the correct information (Name those who have loaned us the money, the day they loaned and the amount of money),” he said.