The majority of Kenyans do not approve of the government’s appetite for foreign loans, a new study by Infotrak indicates.
According to the survey by Infotrak in 24 counties, 62 per cent of Kenyans are of the opinion that it is not a good thing to regularly borrow externally.
“A majority of Kenyans at 62 percent do not think regular borrowing from foreign countries is a good thing, ” Infotrack Public Policy and Governance Research manager Walter Nyabundi said.
A total of 81 per cent of those interviewed said the level of Kenya’s foreign debt makes them feel anxious, fearful or angry.
According to the 2021 Budget Policy Statement, Kenya's public debt as of June 2020 stood at Sh7. 06 trillion, equivalent to 65 per cent of GDP.
President Uhuru Kenyatta’s Central backyard topped the list of those opposed to regular borrowing at 69 per cent.
It was followed by Coast - 67 per cent, Rift valley - 66 per cent, Nairobi 62 per cent and Western 60 per cent.
The study released on Wednesday indicates 52 per cent of Kenyans are of the opinion that the government’s handling of the debt is poor.
Only 12 percent of the 800 respondents said the government is properly using the loans.
The majority of those unhappy with the government’s handling of foreign loans come from Western, Coast, Central, Nairobi and Eastern regions.
“Kenyans are demanding that their representatives in Parliament and even County Assemblies take this issue (government borrowing) seriously,” Nyabundi added.
The research conducted between December 20 to December 23, 2020 had +/-3.5 percent margin of error and 95 per cent degree of confidence.
