Deputy President William Ruto has said that Kenya can reduce its appetite for loans from international institutions by expanding its tax base.
Speaking to the Kenya Private Sector Alliance on Thursday, DP says the country is able to collect more taxes to fund development projects instead of borrowing expensive loans.
Dr Ruto also said that if the government put more effort into digitizing the tax-paying process, they would collect more compared to now.
"Increasing the efficiency of tax collection through digitization will be a big win because we will be able to collect more taxes," he said.
"We can begin the journey to build and run our affairs using the taxes collected instead of relying on foreign debts."
In February, while in Meru, Kenya Kwanza leaders blamed the truce between President Uhuru Kenyatta and ODM leader Raila Odinga for the country’s debt crisis.
The leaders said the country’s debt before the handshake was Sh4.5 trillion, but the figure has ballooned and now stands at Sh11.7 trillion.
“Was the handshake a license to burden Kenyans with punitive public debt, punitive taxation, punitive food prices and a high cost of living?” ANC leader Musalia Mudavadi said.
The Ruto-led team said “sponsored” amendments to the Budget Policy Statements for the financial year 2022-2023 are in bad faith.
Mudavadi said they are aware National Treasury Cabinet Secretary Ukur Yatani has prepared for submission to Parliament a proposal for a new debt ceiling of approximately more than Sh12 trillion.
Before the 2017 general election, Raila raised the red flag about the government appetite for loans, saying Jubilee was "over-borrowing, overspending and over-stealing."
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