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The Standard Group Plc is a
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Kenya is on a borrowing spree that has pushed the outstanding debt to Sh3.4 trillion, according to figures released by Treasury last week.
Already, Treasury has set the stage for a Sh689.1 billion loan to plug the budget deficit. Make no mistake, countries like the United States ( the World's biggest economy) and Japan (third) have GDP-debt ratios of over 100 per cent. According to the World Bank, Germany, Europe's biggest economy and one of the countries regarded as fiscally disciplined, had a debt to GDP ratio of 79 per cent in 2013. So debt is not entirely a bad thing.
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