The public debt of government of Kenya as really increased steadily as compared with previous apart from the year 2020, the debt rose dew to different factors. As we can consider factors such as corona virus which as led our economy to grow negatively as unexpected since March year 2020. Due to concerned, of government to his citizens and to consider their life. It's as forced them to borrow money to help our need and to fight with these virus.
Through fighting these virus the debt goes up, and we should put our mind together and come up with a better solution about the increment of debt as citizens of Kenya. Below are some of the solutions to reduce the debt:
Government of Kenya, to boost the taxes bases so that we slightly reduce debt.
The government of Kenya to start paying debt instead of borrowing, and maybe after 2 to 3 years debt to decrease.
The Government to slightly reduce the budget of the citizens and use the amount to pay debt.
The government of Kenya, should check different sectors in the economy such as agriculture and etc. To which sector can help them to reduce debt.
Government of Kenya, should also consider the rate of borrowing. This means, the rate at which government is borrowing money should be less than the rate at which government is paying public debt. For instance, the rate of borrowing to 45 percent and rate of paying debt to be 50 percent.
The most thing, the government of Kenya to consider is that, to avoid borrowing of money for almost 5 years so that they can see how to solve these debt first.
You can also give your thoughts, and we help government of Kenya. This country is ours and it into deep.
Drop your thoughts.