President Kenyatta says he will continue to take loans to fund development projects in the country.
Responding to Amani National Congress leader Musalia Mudavadi's request to stop his administration's borrowing spree, the President says it is impossible for the country to realize development without borrowing.
“Mmeniambia nisikope lakini mnataka barabara…Hata mzee alikopa ili apate karo ya kumpeleka Kalonzo shuleni! Haja ni pesa isiibiwe, isitumiwe kulipa mishahara," Kenyatta said while speaking at the burial of Wiper leader Kalonzo Musyoka's father Peter Mairu, in Tseikuru, Mwingi, Kitui County.
“We must borrow in a manner that we are sure we can service the debt, be cautious and prudent. We are borrowing not to consume, but to grow."
Kenya's current public debt stands at Sh5 trillion and the National Treasury projects it will hit Sh7 trillion by the time Kenyatta exits office in 2022.
The International Monetary Fund (IMF) and economic experts have warned that the debt could reach unmanageable levels.
President Uhuru however maintains that he is not bothered by Kenya's debt since money borrowed is used to fund infrastructure development which is a priority for the country.
“What would worry me is if the debt that we have incurred has gone to recurrent expenditure like salaries. But we have utilised that debt to close the infrastructure gap and anyone coming to Nairobi after 10 years will be able to know,” said Kenyatta during an interview with CNN's Richard Quest.
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