Ruto: We Will Only Borrow Ksh 600 Billion

President William Ruto has announced the amount of money that the Kenyan government will borrow in 2023.

Speaking at an interdenominational church service in Narok County, the head of state criticized the spread of misinformation through media outlets that the government has borrowed Ksh 500 billion in four months.

‘There are people who are spreading propaganda that the government is on a borrowing spree. I want to assure Kenyans that I have put a cap on carefree borrowing which the previous administration had initiated,” Ruto said.

Ruto stated in his speech that he was shocked to learn that the 2022/2023 budget was to borrow Ksh 900 billion. However, he initiated a plan to prevent Kenya from being dependent on external debts.

“I slashed the amount and instructed that as a country, we will only borrow Ksh600 billion,” the President revealed.

“In subsequent years, we will continue slashing the debt until we can finance our budget through revenue collected,” he added.

The Kenya Kwanza government announced that the Ksh600 billion will be used to complete pending infrastructure projects.

According to President Ruto, the previous administration approved the amount of money sourced externally.