From the mouth of an economist…
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What type of an economist is this???
The context of that statement is missing. Someone got crafty in posting this.
Kama ni out of context ni sawa juu ile economics school nilienda sikufunzwa hivyo. Kenya gets more than enough foreign currency from selling agricultural products, remittances from Kenyans living abroad and many other sources. You don’t go into debt just to access foreign currency.
The guy seems to be a panelist on a TV show , which means he put lots of stuff out there for the audience.
Picking only one statement in an interview that lasted from an upward of 5 minutes is sinister.
That is true caption this we export commodities worth 6 Billions USD and imports products worth 17 billions USD that trade deficit can only be compensated through borrowing.
That’s a whooping 11 billion annual deficit! This country is heading to the state of “eat the rich”. we need to manufacture a few things so that we can reduce the imports and subsequently the trade deficit. Funny enough during moi times the trade deficit was near zero.
you can remedy that through buying kenya building kenya. those Imports are toothpicks from china, plastic plates and cups from china, socks, second hand underwear, umbrellas…