http://www.standardmedia.co.ke/mobile/article/2000198164/each-kenyan-owes-the-world-sh79-000-thanks-to-jubilee-s-borrowing
Grim reading .
Summary: We’re up sh#t creek without a paddle, economy in stagnation or regressing
If you think this is bad, it is just a tip of the iceberg. Wait till 2022 and you will see what a regression is.
This article purports that external borrowing is a bad thing. Which is a total lie. Hogwash article.
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Don’t worry… we shall borrow some more to sort this out lol
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It’s a vicious cycle.
KRA collection approximately 1 trillion
Debt repayments annually approximately 350 billion.
National budget 2 trillion.
Deficit 1.3 trillion = annual borrowing