There is no denying that President William Ruto is a cunning politician.
So much so that he is covertly attempting to lift the nation’s debt ceiling, which would furthers Kenya’s economic crisis.
He is surprisingly carrying out all of these actions when Kenyans are fixated on his divisive Finance Bill 2023, which has alarmed them.
Raila Odinga, the leader of Azimio la Umoja, revealed this and urged Kenyans to oppose any move to raise the debt ceiling.
Raila said that the Kenya Kwanza administration plans to change the debt cap from Ksh 10 trillion to 55% of Kenya’s gross domestic product (GDP) in a speech on Thursday, June 8 at the Jaramogi Oginga Odinga Foundation.
“Quietly Ruto is trying to raise the country’s debt ceiling from the current absolute number of Ksh 10 trillion to a moving number of 55 percent of GDP,” Raila asserted.
Kenya Kwanza, according to the leader of the opposition, wants to change the Public Finance Management Act in order to increase the debt ceiling.
The current administration, according to Raila, seeks to transfer control over determining the debt ceiling from Parliament to the Ministry of National Treasury.
In order to remove the parliamentary authority to approve an increase in debt, an amendment is currently being proposed in Parliament, according to Raila.
To avoid further breaking the law, Ruto wants the Public Finance Act to be changed so that the National Treasury, rather than Parliament, is given the authority to set new debt ceilings. “The tax level is already at 60 percent of the GDP,” he continued.
