Journalists Grill CS Ndung'u on National Debt
Treasury Cabinet Secretary, Professor Njuguna Ndung'u, on Thursday, June 15, confronted inquisitive journalists seeking clarification on budget allocations and proposals he made while addressing Parliament.
Treasury Cabinet Secretary Ndung'u, answered questions on how Kenya will repay its debt and explained the principles of public debt management.
He also detailed that the national debt is money a country owes to its creditors.
"Let me school you a bit on borrowing which is an act of taking a loan from a creditor. Governments borrow money for various reasons, such as to finance wars, build infrastructure, or provide social services.
"There are a number of principles that govern national debt and borrowing. These principles include sustainability. The government must ensure that its debt is sustainable, meaning that it can afford to repay the debt and interest payments without putting a strain on the economy," CS Ndung'u explained.
Treasury Cabinet Secretary stated that President William Ruto's government will regularly update the country on its debt levels and repayment plans to promote accountability and transparency.
