Murang'a: Kiharu MP, Ndindi Nyoro, has expressed concern over the rapid increase in national debt, cautioning that the current borrowing practices could burden future generations unless the funds are directed toward projects that promote sustainable development. Nyoro highlighted the issue during a speech in Murang'a, where he outlined the scale of recent borrowing and stressed the need for prudent financial management.
According to Kenya News Agency, Nyoro revealed that the Kenya Kwanza administration has accumulated more than Sh3.5 trillion in debt over the past three years. He provided a breakdown of the figures to underscore their seriousness, noting that this equates to over Sh100 billion monthly, Sh3.5 billion daily, and approximately Sh145 million every hour. Nyoro urged policymakers to reconsider how public finances are being handled to prevent excessive debt accumulation.
Nyoro compared the current debt levels with those of previous administrations, specifically mentioning former President Mwai Kibaki's government, which borrowed Sh1.2 trillion throughout Kibaki's tenure. He highlighted that Kibaki's borrowing was focused on visible and tangible results, such as roads, energy projects, and educational facilities, suggesting this should be the model for current financial strategies.
While Nyoro acknowledged that borrowing is not problematic in itself if used for strategic projects with long-term economic benefits, he warned against the use of debt to cover recurrent expenses, like salaries and operational costs, as this would not benefit future generations.
Shifting focus to education, Nyoro expressed concern about the funding crisis faced by schools, citing delays in the disbursement of government capitation funds as a significant issue. He urged for the prompt release of these funds to prevent disruptions in learning and to alleviate financial pressure on educational institutions, which might otherwise be forced to send students home.
Nyoro's comments align with broader concerns from education stakeholders across the country, who have warned that ongoing delays in funding could negatively impact learning and place additional burdens on parents.
While acknowledging the government's substantial investments in infrastructure and social programs, Nyoro emphasized the need for prioritization in these sectors. He concluded by stating that tangible results in infrastructure, healthcare, education, and opportunities for youth are essential to justify the current levels of borrowing.