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Estimates presented on Thursday are a monument to the debt binge President swore to end. [PSU]
On a bright September morning in 2022, newly sworn-in President William Ruto stood before Parliament and made a promise that resonated with a nation weary of debt.“The government should never borrow to finance recurrent expenditure,” he declared, referring to the day-to-day spending on salaries, operations, and maintenance.
“We must bring ourselves back to sanity.”
He vowed to stop the cycle of using loans to pay civil servants, pledging that within three years his government would produce a surplus – where tax revenue fully covers daily bills.
