The public debt of Kenya stood at a whooping Kenyan shillings seven trillion and six hundred million as of June 2020 according to the 2021 Budget Policy Statement. This value is undoubtedly huge and has been calculated to be equivalent to exactly 65 percent of the country's Gross Domestic Product[GDP].
On the other hand, the Treasury claimed in December 2020 that Kenya's pubic debt figure represents 65.6 percent of Gross Domestic Product[GDP]. This though does not make any big difference because the debt is still high.
What has raised a lot of temperature and panic among most Kenyans is that fact that the country had hatches a successful plan with the IMF which led to a successful approval of Ksh 783 billion. This has made most loyal and Kenyans protective of their country's welfare weary because of the increasing public debt burden it's putting itself into.
The money inform of debt from the IMF is aimed at supporting the country financially to help deal with the next phase of COVID-19 which we are already experiencing among other essential uses it has been planned for.
Most Kenyans think Kenyans public debt keeps increasing in the process raising a necessary alarm to initiate a solution for this issue to stop moving towards dangerous levels. Apart from the IMF, Kenya also owes money to countries like China among others.
Do you think Kenya's continuous idea of getting huge loans bad? What is your response towards this?
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