Bor­rowed money is not spent well and debt bur­den grows

The Star (Kenya) - - Voices -

The government is con­tin­u­ously pil­ing debt but what is more wor­ry­ing is when this debt is not used to stim­u­late pro­duc­tion and eco­nomic growth. In­stead, it is be­ing stolen. With a rife cor­rupt en­vi­ron­ment, these bor­rowed sums are bound to at­tract a lot of fear and spec­u­la­tion. It is hard for any government to sur­vive with­out debt, not un­less the pop­u­la­tion is small and there are enough nat­u­ral re­sources for ev­ery­one, which can’t be the case. Prop­erly utilised debts have pre­vi­ously con­trib­uted to the growth and de­vel­op­ment of the econ­omy if and when used prop­erly. I ad­mit that the Chi­nese have their short­com­ings but when it comes to the in­fra­struc­ture de­vel­op­ment they have funded, they de­serve a pat on the back. The debts we’ve bor­rowed from them have helped. But cau­tion must be taken not to im­plode a nation while bor­row­ing.

HAR­RI­SON IKUNDA Nairobi

Newspapers in English

Newspapers from Kenya

© PressReader. All rights reserved.