Hon Irungu Nyakera the party leader of the Farmers Party and KICC chairman has taken a moment to share something with us:

“Three things are ailing our economy:

1. Government borrowing crowding out private sector leading to domestic credit growth dropping to an all time low of 2.3% in September 2024.
2. Spiraling pending bills. Pending bills made under the just concluded verification exercise amounted to over Ksh. 670bn, owed to over 115,000 claimants. Most of these pending bills add up to the current 16% private sector Non Performing Loans with banks, and is the main cause of the auctions we are seeing in our dailies.
3. Unsustainable debt obligations. Kenya’s total debt service obligation for the FY 2024/25 stands at Ksh 1.85 trillion, constituting debt redemption at Ksh 843.4 billion and interest payment at Ksh 1.1 trillion. Without thorough reassessment of debt sustainability, continued borrowing will lead to a severe debt trap, constraining fiscal space and limiting the
   government’s ability to invest in essential services and development initiatives.

Until we can address these three issues, our economy will continue struggling.