Kenneth says rising national debt worrying
29 August 2013, 17:14
Nairobi - Kenyans would be burdened by the rising public debt if it is not handled well, says Peter Kenneth.
Kenneth, a former presidential candidate and Planning and National Development assistant minister said in 2008, the national debt was KES 700. Since then it has risen to KES 2 trillion and he says it may reach KES 2.5 trillion by the end of this financial year, Daily Nation reports.
He warned that the increase may be unsustainable since about 40 per cent of the country’s revenue will be used to repay the debts and accrued interests leaving no money to fund development projects.
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