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Opinion: Ways In Which The Kenyan Government Can Solve The Public Debt Crisis

1. Bring an end to corruption by whatever means possible.


2. Recover looted funds and use the funds in reducing the country's debt level.


3.Invest in object driven projects instead of vendor driven projects that only serve to increase the debt burden and enrich only the few elites.


4.Generate more revenues by lowering the common man's tax rates and formalize the economy. Lowering taxes leave businesses and households with more disposable income and in the end results to high tax revenues.


5. Strengthen the Shilling by promoting exports, grow tourism and reduce unnecessary imports.


6. Sell assets in profitable state owned enterprises and plough back the profits to reduce the debt levels.


7. Lengthen the country's loan maturity period, replace high interest loans with cheap interest loans.


8. Ensure the country's economic policies are predictable and stable thus improving an investing environment for both local and foreign investors.


9. Lower spending by cutting unnecessary expansionary fiscal policies and projects. Some of the ways of cutting spending include pay cuts for government staff, freezing of non essential development projects and staff rationalisation.

Content created and supplied by: Kwazimodo (via Opera News )

Kenyan

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