Raila: For each shilling spent on investment, another is pocketed

NAIROBI, KENYA; Raila Odinga on Monday said if elected his government will deal with corruption which he blamed for high rate of unemployment in the country.

In a televised presidential debate, Raila claimed that currently for every one shilling spent by the government another one shilling goes into individual’s pockets in unclear manner.

“We can create fiscal discipline and raise sufficient revenue and invest properly because at the moment every shilling spent another shilling is stolen,” he said adding that NASA government will be strict on corruption.

Raila said the government has over borrowed and not invested the money properly. Failure to invest the money properly has not helped youths who form majority of the unemployed at 40 percent.

‘The government has borrowed expensively running away from concessional loans to commercial loans with actually no maturity rate.”

Concessional loans are facilities that are extended on terms substantially more generous than market loans. The concessionality is achieved either through interest rates below those available on the market or by grace periods, or a combination of these. Concessional loans typically have long grace periods