The Kenya Kwanza Alliance have pointed an accusing finger to the Raila-Uhuru Handshake as the source of Kenya’s economic crisis.
During a news conference on Monday, ANC leader Musalia Mudavadi reported the Kenyan Treasury as saying that the public debt has expanded six-fold since 2013, to Ksh. 11.7 trillion (8.2 trillion in direct public debt and 3.5 trillion in guaranteed promises) as of February 2022.
The coalition, which is now visiting Meru, has asked Treasury Cabinet Secretary Ukur Yatani not to authorize any fresh loans that will add to the country’s already massive debt burden.
According to Mudavadi, loan commitments have exceeded the parliament-approved debt cap of Ksh.9 trillion, severely damaging the country’s fiscal predicament.
They also asked parliament to reject CS Yatani’s plan, which he believes will increase the country’s budget deficit to Ksh.12 trillion.
“By opposing any request for ratification of a new debt ceiling, the National Assembly and the Senate must avert further strangling of Kenyans with further debt,” he posed.
The coalition has also suggested a budget amendment for the fiscal year 2022/2023 that would give an additional Ksh. 2 billion for drought mitigation, including a livestock-offtake program.
Regarding corruption, Kenya Kwanza has recommended modifications to give an extra Ksh. 12 billion in FY 2022/2023 for the operationalization of the Judiciary Fund in conformity with the Constitution, in order to empower the Judiciary with financial independence and autonomy.
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