Mathare MP Oluoch faults Kenya Kwanza gov't for the high cost of living
Despite the government's claims of progress, Oluoch highlighted a stark reality: rising living costs driven by soaring food and fuel prices, urging the government to take concrete steps to address these growing concerns.
“We are saying that the GDP has stabilized and that we are now more credit worthy, all these things should zero in terms of, have Kenyans reaped the benefits of reduced costs of basic commodities, the answer is no,” Oluoch said.
Oluoch also questioned President William Ruto's commitment to reducing the country's reliance on loans during an appearance on Citizen TV's Daybreak Show early Monday.
“This government justified the reasons why they were increasing every tax, so that we reduce the over reliance of debts. However, the last time I checked, our debt has risen from Ksh.8.7 trillion to Ksh.10.58. How are we balancing the two?” he posed.
The legislator further stressed the need for a more balanced approach to ensure both economic growth and prudent debt management.
Acknowledging global disruptions such as undeclared debts and the conflict in Ukraine, Oluoch stressed the importance of interventions to address these challenges, criticizing calls for patience without addressing the immediate needs of ordinary Kenyans.
Joining the conversation, Eldas Member of Parliament Aden Keynan reassured the public that the administration's reforms, while causing short-term discomfort, hold the promise of significant long-term benefits.
Coming to President Ruto’s defence, Keynan cited that the Kenyan Kwanza Government is at an early stage of development, and assured Kenyan that the current difficulties are temporary.
Keynan asserted that the benefits of recent tax reforms might take time to materialize.
“This administration is in its infancy stage, barely a year old and I will say that this is the first budget that they have conceived and they are implementing. The effect of this might not be seen this financial year,” Keynan said.
“In the short term these tax reforms will be painful, that’s why are we saying, bear with the Government. For now, I am not worried at all, and for Kenyans, the pain that they are going through right now is temporary and I am sure that in the next few months and years, they will have something to celebrate,” he added.
Figures from Treasury showed that total public debt rose by a record Ksh.1.56 trillion in the financial year ended June 30 to Ksh.10.1 trillion, breaching a debt ceiling of Ksh.10 trillion.
"The increase in public debt is attributed to external loan disbursements, exchange rate fluctuations, and the uptake of domestic and external debt," Treasury said.
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