Ichungwa Claims The Country is Debt Secure, Kenyans Voice Living Cost Woes
Kimani Ichungwa, Majority Leader in the National Assembly, asserts that despite public concerns about the rising cost of living, the nation’s debt situation is stable.
Mr. Ichungwa, the Kikuyu Member of Parliament and also a spokesperson, asserts that Kenya’s fiscal stability is attributed to the endeavors of President William Ruto.
The government-associated legislator asserts that Dr. Ruto has played a key role in presenting Kenya as a country that values its obligations to creditors.
In a video, Ichungwa is heard lauding President Ruto for steering the country in the right direction “compared to some other African nations which have since defaulted on external debts.”
The legislator from the United Democratic Alliance (UDA) party, however, refrained from disclosing the specific African countries he asserted are in default.
“When all nations around us, especially in our region in Africa, are defaulting on their debts, through your leadership, Your Excellency (referring to President William Ruto), our country today is debt secure. Our country today is on an economic trajectory that is safe, and we shall not be defaulting on our debt,” Mr Ichungwa stated.
The MP further explained, “These are great and glorious things that the Lord has done for us. We give thanks to Him, praise Him, and let it be known to all nations of the world that the Lord God has done great and glorious things for our country.”
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Ichungwa’s comments arise in the midst of widespread public concern regarding the continuously increasing cost of living.
Several months following President Ruto’s inauguration, he assessed certain taxes and fees.
The action involves the approval of the Finance Act 2023, which suggests an increase in the fuel Value Added Tax (VAT) from 8 percent to 16 percent, and the implementation of the controversial housing levy.
The Azimio la Umoja coalition, which represents the opposition, strongly disagreed with the contentious bill.
However, Dr. Ruto justified the rise in VAT on fuel and other charges, claiming that this decision has helped Kenya emerge from its financial difficulties.
Mr. Rigathi Gachagua, the deputy, has persistently asserted that the Kenya Kwanza Government received an economy in a state of disrepair from the previous leader, Mr. Uhuru Kenyatta.
Ichungwa Claims The Country is Debt Secure, Kenyans Voice Living Cost Woes
