PS Kiptoo: It's important not to grow nation through debt
National Treasury Principal Secretary, Chris Kiptoo has said that for the nation to grow, it is important to do so without debts.
He said that debts were the reason why the government had to go through what he referred to as 'physical consolidation'.
Kiptoo was speaking on Thursday at the National Treasury.
"The government had to go through what we call 'physical consolidation' where we went through the medium term to reduce our appetite for financing our budget through debt," Kiptoo said.
He noted that it was because of debts that the country has held, forcing them to expand revenue measures, contain expenditures, and use public-private partnerships.
He said debt is a big constraint and the country cannot continue borrowing.
The PS added that it was time to review taxes in the country even though there will be gains and losses.
"It is time to review taxes so as to see what to increase and what to reduce. There will be gains and losses but as Kenyans, we need to take some pain so as to take our country to the next level," he said.
Kiptoo said Kenyans are expectant of the government from the promises they made.
"Kenyans are expectant of this government from the promises they made and from where I sit, I see hope," the PS said. BY THE STAR
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