Wednesday, June 9, 2021 – Sports CAS Zack Kinuthia has stepped on the toes of millions of struggling Kenyans after he defended President Uhuru Kenyatta’s borrowing spree ahead of the presentation of the 2021/22 budget in Parliament.
Speaking during an interview, Kinuthia argued that Uhuru was justified in taking loans to fund his development agenda.
“Debt is beautiful, debt is sweet because it makes you grow and also keeps you alive.”
“The president has gone out of his way to find alternative ways of delivering his programmes like private equity.”
“I want to declare openly that I’ve always and will always articulate the agenda of the Jubilee party leader,” Kinuthia insisted.
Uhuru has always stood his ground, stating that he would not stop borrowing to raise money to spur the economy through development projects.
He further declared that he will not relent on remittance of taxes as an additional source of funds.
A huge chunk of the 2021/2022 Sh3.6 trillion budget is expected to go to repaying loans.
Treasury CS Ukur Yatani is expected to borrow Ksh952.9 billion to plug a deficit to finance capital projects and to offset other debts.
Kenya’s treasury has been on the spot for securing multiple loans from Eurobonds, World Bank, and the International Monetary Fund (IMF), decisions that do not augur well with a majority of Kenyans, especially after Uhuru admitted that Kenya loses Ksh2 billion daily to corruption.
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