President Uhuru Kenyatta at a past event. [PHOTO/the-star.co.ke]
President Uhuru Kenyatta has come out to explain the reason behind his government's huge borrowing culture.
In a statement issued on Friday, the president said that the motive behind the constant borrowing was to get enough resources for economic growth.
He said that at the moment, the country does not have sufficient resources and that this is why they are seeking help from the international community to grow the nation.
“Developed nations are where they are because they managed to access borrowing. That is why they have grown economically,” said Uhuru.
He said that those concerned about the country's huge borrowing should instead focus on finding out whether or not the money is utilised on development projects.
Uhuru added that huge investments in roads, health and water were going to impact the country more positively and help the economy rise to better levels.
“Yes, we cannot run away from the fact that we are borrowing. As a responsible government we are borrowing for investment in order to create growth in future and thereafter create opportunities and jobs,” added Uhuru