Ruto Reveals How He Will Deal With Uhuru's Debt

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    President Uhuru Kenyatta (left) with his deputy William Ruto (right) at a past church function in Nairobi.
  • Deputy President William Ruto has unveiled his grand plan on how he will deal with a huge debt left behind by President Uhuru Kenyatta when he retires in 2022.

    Speaking during his Nyeri tour on Monday, December 6, the DP disclosed that he took part in borrowing the loans and would spearhead their repayment if he is elected president.

    He noted that the loans were borrowed to fund the Big Four Agenda which was a brainchild of both the President and his deputy.

    "I want to tell you Nyeri people, just like we promised you  that we shall bring employment for the youth under the Big 4 Agenda. We also planned for Universal Health Coverage and Agriculture. A promise is a debt and the only way to move forward is if we pay it.

    President Uhuru Kenyatta at a meeting with Mt Kenya region MCAs at Sagana State Lodge on January 29, 2020.
    President Uhuru Kenyatta at a meeting with Mt Kenya region MCAs at Sagana State Lodge on January 29, 2020.

    "It was me and Uhuru who planned the Big 4. Even though the President will retire next year and since the debt must be paid. I as William Ruto will pay my debt we took with Uhuru for the Big 4. We want to be truthful and trusted," stated the DP.

    His declaration comes at a time when Members of the National Assembly are seeking to extend the debt ceiling in order to fund the upcoming General Election.

    At the beginning of December, learned that the National Treasury headed by Cabinet Secretary Ukur Yattani had unveiled plans to borrow an additional Ksh846 billion.

    The Treasury was pushing Members of Parliament to raise the debt ceiling from the current Ksh9 trillion.

    The state plans to borrow Ksh363 billion from external sources and Ksh483.1 billion from the local market to fund its projects.

    If the lawmakers oblige, the debt owed by the government both locally and externally will rise to a high of Ksh9.65 trillion in total.

    So far, the country's debt stands at Ksh7.7 trillion with Ksh200 billion having been borrowed in July and August 2021 alone.

    It is also projected that the economy will grow 4.5 per cent due to the anticipated spending ahead of the General Election slated for August 2022.

    Treasury CS Ukur Yatani (right) poses for a photo at Treasury Headquarters, Nairobi on Thursday, June 11, 2020, ahead of Budget 2020/21 presentation