Gatundu South MP Moses Kuria has raised concerns over the ballooning public debt. While addressing journalists on Friday, Kuria said that the public has been left at the mercy of the government because of excessive borrowing.
He noted that acting National Treasury CS Ukur Yattani is yet to act in accordance with the needs of Kenyans.
The controversial lawmaker said that different government departments cannot account for the millions allocated to them by the Treasury.
Kuria added that it is saddening for Kenyans to notice that the government has been servicing too many loans, which has made it hard to initiate different government projects.
The Gatundu South lawmaker noted that some of the loans attract interest rates of up to 9 percent, which is not good for the economy.
"How can you have one loan paying 9 per cent and another 70.7 per cent, even you as an individual, it shows that some things that have been happening in that treasury have been suspicious and leave a lot to be desired, “ he said in part.
Kuria appealed to the government to seek cheaper loans to cushion the taxpayers from the burden that comes with the debts.
He also noted that Kenya’s high appetite for loans should be tamed before it is too late. Kuria noted that institutions such African Development Bank, Kuwait Bank and The World Bank have been asking other countries to go for their loans but they have rejected the request.