OPINION: Why the common mwananchi should be worried as public debt hits a staggering Sh5 trillion

While some Kenyans have supported the national government for borrowing as a means to meet infrastructure development, others have condemned the Government's action.

In fact, the move has been termed as contrary to the public interest and punitive to ordinary taxpayers.

Latest statistics from Treasury shows that Kenya's public debt has hit Sh5 trillion mark and, worse of all, it is supposed to repay Sh700 billion commercial debt this year.

Unsurprisingly, the country's debt to Gross Domestic Product ratio is at 50 per cent.

It is regrettable that Kenya's economy has been performing dismally over the past few years and this can be attested by free fall of Kenyan shilling against other international currencies in the recent months.

Unemployment has reached unacceptably high levels while the cost of living has risen astronomically due to inflation and unfriendly tax regime. As a result, many businesses are on the brink of collapse and bankruptcy.

Moreover, the ballooning public wage bill has become a millstone around the Government's neck. The explosion of corruption in the national government, contraband goods and white elephant projects have exacerbated public indebtedness.

The fact that a borrower is a slave to the lender is a wise dictum for the Government to apply.