COTU Secretary-General, Francis Atwoli, has raised an alarm that Kenyans should be worried over Jubilee government's borrowing spree that has seen the public debt increase.
According to a report by The Standard, he expressed concern that the resultant economic state of the country has become a burden to the citizens.
The public debt has soared to a staggering Sh4.57 trillion based on a December 2017 Quarterly Economic and Budgetary Review report released by The Treasury.
[caption caption="COTU Secretary-General Francis Atwoli"]
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In his opinion, Atwoli believes that such a huge national debt figure has the potential of plunging the country into an economic crisis.
He further warned, that if unregulated, the borrowing rate would see the citizens pay for the DEBT for the rest of their lives.
A similar concern over the government's priorities was raised by former Kakamega Senator Boni Khalwale during NTV's AM Live show on Tuesday.
Khalwale questioned the prudence of government borrowing Sh202 billion through Eurobond 2 with an estimated Sh323 billion interest payment over the 30 years lifetime.
The former Kakamega Senator also expressed concern that the borrowing made during the controversial Eurobond 1 could not be traced back to any meaningful projects.
Deputy President William Ruto, however, recently exuded confidence that the rising debt was sustainable and the country would be able to furnish the loan.
[caption caption="Deputy President William Ruto"]
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DP Ruto argued that the borrowing was necessary in improving the lives of Kenyans through Jubilee government’s Big Four Agenda on housing, food security, manufacturing and universal health.
