“We are in the red. Our quantum payment of debt has crossed over the Sh1 trillion mark. The debt is rising yearly. Revenue projection has been raised from Sh1.4 trillion to the current Sh1.6 trillion. It is expected to be raised to Sh1.8 trillion. The Sh600 billion balance remaining from revenue after debt repayment is not enough,” said Joshua Musimi, CoB Director for Research and Planning.” The Standard
Mimi hii deni ya mchina ndio ilifanya niache pombe na malaya. I could no longer afford to blow 5K every weekend on drinks and lanyes after my employer started delaying paying our monthly dues. By December we will be singing hallelujah!
if it takes one year to pay 1.4 trillion debt. and our debt is roughly 6 trillion. Does it mean the government can take like 4 years to pay the total national debt? It is only an idiot who can believe that. First ask yourself what is the repayable period of SGR EXIM bank loan.
Each form of debt has different maturity periods.For example some of the local debt dates to the Moi era and the principle needs to be returned.The foreign debt is much more recent,most of it being a mix of all eras except the Kenyatta one.
Also a lot of the dues are interest rather than the debt itself, especially for this Jubilee Government
The foreign debt from various era cummulatively plus the domestic debt amounts to the national debt that is slightly below 6 trillion. If some of this debt has varying maturity period, and annually you are paying 1.4 trillion as indicated above, it means you will exhaust paying th debt in approximately 4 years. Do you know whether while counting the national debt you just quote the principle amount or u also include the accrued interest
If our currency loses value, that simply means our purchasing power also reduces. It’s a situation that has been facing citizens of nations whose economy suddenly tumbled.