'Jubilee government is looting the economy' Rutto claims
Bomet county governor, Isaac Rutto has criticised the Jubilee administration for excessive borrowing.
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Ruto on Sunday criticised the Jubilee administration for excessive borrowing with nothing to show for the funds.
“We did not elect you to loot the economy; we did not elect you to borrow beyond the capacity of this country”
Rutto in his no-holds barred fashion accused the Uhuru’s government of selling the country to the highest bidder.
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“sasa kila mtu anadaiwa karibu 90,000 shilings mwenye amezaliwa inchi hii”
Translated “now everyone born in this country owes a debt up to Sh 90,000”
The Chama Cha Mashinani leader also claimed the Jubilee has surpassed what former president Mwai Kibaki borrowed in ten years, however unlike Kibaki, Jubilee has nothing to show for the billions in shillings allegedly set aside for development projects.
“Where have they taken the money? What are they doing with it, they keep telling us they have set it aside now they have also set us aside” Rutto hit out amid cheers from the crowd.
This new accusations comes barely days after CORD principal Raila Odinga also accused the government of over borrowing.
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Raila told journalist on Friday, Uhuru’s government was planning to borrow another Sh83 billion to pay off debts.
Hours after Treasury CS Henry Rotich said the country was borrowing to encourage investments and meet expenditure.
Rotich played down the over borrowing accusation noting that the country's debt target does not exceed 50 per cent of the Gross Domestic Product.
However despite Rotich reassurance, World Bank towards the end of last year also cautioned the government to tame its borrowing spree in order to keep the economy on a steady growth part.
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As of June 30, 2015, Kenya’s gross public debt-to-GDP ratio was 49.7 per cent, and external loans contributed to the Sh420.9 billion increase in public debt from June 2014.
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