Use Debt to Build Kenya's Economy - Kenyatta Advises

President Uhuru Kenyatta has urged the next administration to use debt - emphasising its importance - as a key accelerator of economic development.

Kenyatta, while delivering his last national event speech during the Madaraka Day fete, defended the Jubilee Party's decision to borrow more, noting that it helped to "close our infrastructure gap and connect our markets."

His remarks come as the National Treasury proposed an increase in debt ceiling from the current U.S.$77 billion to U.S.$86 billion, to enable the government to borrow more to finance the U.S.$28 billion budget for the 2022/23 financial year.

A huge chunk has gone to infrastructure projects - key of which is the Standard Gauge Railway (SGR) whose contracts, agreements and studies related to the construction and operations of the SGR, are not yet open to the public.

InFocus

A railway line stretching from the port city of Mombasa to Naivasha (file photo).

Follow AllAfrica

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.