Former Safina Party Presidential aspirant Jimi Wanjigi has said the country cannot continue borrowing.
Wanjigi, while speaking at an interview with Spice FM on Thursday, said the country has borrowed over 100 per cent of the revenue it collects.
"As we are talking today, all the revenue that has been collected goes towards debt repayment, " he said.
Wanjigi said that the last published figures of Kenya's collected revenue were in March this year.
He said the figures showed that the tax revenue collected was Sh1.4 trillion shillings.
"Sh1.4 trillion has been collected. That is an average of Sh155 billion per month. Our debt payment this year is exactly Sh1.4 trillion. To be paid this year," he explained.
The businessman said for every Sh100, the government pays Sh80 to debt.
He said the government still has work to do with the remaining Sh20.
On Tuesday, National Treasury Cabinet Secretary Njuguna Ndung’u told MPs the government is paying at least Sh50 billion every week to maturing public debts.
He said the payments have occasioned a biting cash crunch in the country that resulted in delayed salary payments for civil servants.
Explaining the effect of the maturities on the local economy, the CS said the national treasury had to settle local debts so as to spur the local economy as most of the debts that fell due were domestic.
