Kenya depts increases. Kenyans will have to pay more taxes.

Kenyans debts cross over the 10.13 trillion mark by the national treasury. President Ruto has increased the debt by 2.4 trillion since assuming the president office.

The debt now stand at 11.1 trillion. The office of the controller of budget said that the Kenyans debts in June 2022 was 8.63 trillion two months after president Ruto took over the office.

It is said that Kenyans will have to shoulder more tax to pay off the debts. 

According to market analyst Rufas Kamau, said Kenya debt is rising due to the depreciating of the Kenya shillings against the dollar.

  Rufas Kamau talking to tuko he said;

    "Kenya, like many other countries in the global south, has debts in US dollars. When fed raises interest rates, Kenya obligation grow larger because it must spend more shillings to aquire an appreciating dollar and then use it to repay loans."

He continued;

  "The Kenya kwanza alliance government understand the situation very well. We were already in heavy unsustainable debt before they took control of the government. What they are avoiding is cutting down government expenditure since it bad politically " He said