Notably, Kenya’s public debt stands at Sh7.2 trillion, about 71.2 per cent of the GDP. In September 2014, the government’s external debt stock stood at Sh1.045 trillion against the set statutory ceiling of Sh1.2 trillion. As Kenyans wrestle with Covid-19, the issue of endemic public debt and high cost of living have become an economic albatross. The Sh3.66 trillion budget in the wake of the pandemic and recession is a herculean task. Methinks lower taxes would spur investment and boost economic growth and create employment.

Source: Standard Digital June 29, 2021 04:41 UTC