He cited the Talanta Stadium project as one of the major developments funded through what he termed “off the books” loans.
Nyoro, who has become one of the loudest critics of the government’s financial management since losing his position as Budget Committee chair, told accountants on Wednesday that Kenyans were not being given the real picture of the country’s debt burden.
Speaking during the 42nd Annual ICPAK Seminar in Mombasa, the MP claimed that Kenya’s debt had already surpassed the 70 percent debt-to-GDP ratio, far above what official government reports indicate.
According to Nyoro, Kenya’s economy is valued at roughly Ksh16.9 trillion, while the country’s true debt has climbed to Ksh12.5 trillion, even without counting hidden obligations.
Nyoro, who has become one of the loudest critics of the government’s financial management since losing his position as Budget Committee chair, told accountants on Wednesday that Kenyans were not being given the real picture of the country’s debt burden.
Speaking during the 42nd Annual ICPAK Seminar in Mombasa, the MP claimed that Kenya’s debt had already surpassed the 70 percent debt-to-GDP ratio, far above what official government reports indicate.
According to Nyoro, Kenya’s economy is valued at roughly Ksh16.9 trillion, while the country’s true debt has climbed to Ksh12.5 trillion, even without counting hidden obligations.
He warned that extra liabilities arising from indirect borrowing methods were pushing the country further into financial distress. TO READ MORE, TAP HERE.