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Two Jubilee MPs back government proposal for more borrowing

Two Jubilee legislators have backed government proposal to allow more borrowing.

The two, Kikuyu MP Kimani Ichumg’wa and Dagoretti South MP John Kiarie in a report published by NTV and seen by Gotta.news said borrowing was not bad if the monies were put to proper use.

Ichung’wa called for the renegotiation of terms of payment of external debt to allow the private sector to thrive.

“ Once we restructure our debt, we’ll be able to externalize most of  the debt and allow the private sector borrow from domestic” said Ichungwa. Who is also the National Assembly’s Budget and Appropriations Committee Chairman.

Kiarie called for legislators to support bill to increase borrowing when it’s broght to Parliament.

“ As legislators, we’ll support government’s bill to increase debt so that the ongoing development projects do not stall,” said the Dagoretti South MP.

Kenya’s public debt stands at KSh 5.2 trillion and which is over 5p per cent of the country’s GDP.

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