Nominated Senator Isaac Mwaura has faulted the Jubilee government for its alarming appetite for credit.
Speaking on NTV’s AM Live on Tuesday, the lawmaker noted that the rising amount of debt the nation owes to debtors is a threat to the country’s stability, adding that it has made life harder for citizens.
He added that the same will soon come out to haunt the nation as it struggles to pay the growing amount, resulting in inflation.
‘’We have over-borrowed and it will soon begin haunting us. As the government increases the taxes imposed on Kenyans, life will only get harder as the cost of living rises,’’ he said.
According to Mwaura, the incoming President after the retirement of incumbent Uhuru Kenyatta will have a hard time leading the nation in its current financial state.
He noted that the new head of state will face a number of uphill tasks, including restabilising the nation and paying the debts, a not so easy task judging by the huge credit the nation already owes.
‘’Whoever will take over as President after Uhuru Kenyatta will have a big problem of making the nation financially stable. We already have close to 4 trillion in debt with our sources not bringing in enough,’’ he cautioned.
Uhuru is expected to exit power in 2022.