Public Debt and Wealth Development.
My sincere worries stem from the worrying trends in rising debt and key economic indicators crucial for our country's economic development. The Debt/Revenue ratio, currently at 64.3%, surpasses the IMF threshold of 30.0% by over 30%, signalling a potential doom on our fiscal capacity. Additionally, the Debt/GDP ratio has climbed to 70.2%, exceeding the IMF threshold of 50.0% for developing countries by more than 20%. National Treasury debt ceiling was also recently amended in the Public Finance Act, 2012, from a fixed shilling mark to any figure not surpassing 55% of the country’s GDP, but as usual it is difficult to argue that this amendment won't be altered in the near future as fiscal deficit continues to soar in every cycle of financial year. These statistics paint a concerning picture, pointing towards an unsustainable trajectory that demands our immediate attention. Further complicating matters are the prevailing economic headwinds, including the ongoing con...