Deputy President William Ruto has said that his government once elected in 2022 will reduce borrowing and focus on small enterprises to build the economy.
Ruto said that the country is capable of funding its development when the revenues are properly collected and utilized. He stated that empowering small businesses, which he plans to do, will cut the borrowing and improve saving.
“Instead of borrowing, we will enhance and expand our savings. Borrowing is threatening our nation,” he said in Kilifi County.
Ruto met Coastal leaders from six coastal counties as he intensified his efforts to win the region ahead of the 2022 presidential elections.
He explained his bottom-up economic model to the leaders from the six countries and how they’ll be able to execute it.
“The Coast region’s development blueprint will present a fresh start to millions of the residents through its emphasis on the optimal exploitation of tourism, agriculture, maritime and other key economic sectors,” Ruto said.
“Anchored on the bottom-up economic approach, the new plan touching on all the wards in the region will generate more jobs, cut poverty levels and move up the socioeconomic ladder many ordinary people.”
The meeting comes at a time when the country is under a lot of pressure because of its burgeoning debt which stands at Ksh 7.06 trillion.
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