Deputy President Rigathi Gachagua has asserted that 70% of the government’s revenue is dedicated to servicing a public debt inherited from the previous administration of retired President Uhuru Kenyatta.
Speaking at the 92nd Kenya Medical Training College (KMTC) Graduation Ceremony at Kasarani Stadium on December 7, Gachagua claimed that President William Ruto inherited a staggering Ksh9.6 trillion public debt.
Gachagua argued that the Kenya Kwanza administration, led by President Ruto, has successfully navigated the challenges, rescuing the economy from what he described as an “Intensive Care Unit (ICU)” situation through sound economic policies.
Addressing the audience, Gachagua emphasized the dire state of the economy upon assuming office, stating, “When I spoke here on September 13, 2022, I said that we found empty coffers; I repeat we found empty coffers, and that is the truth. No amount of denial will change that fact. We found the Kenyan economy in ICU.”
He likened the economic recovery process to a medical scenario, highlighting the efforts to move the economy from ICU to the High Dependency Unit (HDU) in the initial six months and subsequently to the general ward in the following eight months.
Gachagua expressed optimism about the signs of recovery, asserting that all economic organs are now functioning well.
The Deputy President urged patience from the public, stating, “In the next several months, the patient will be discharged to go home and be attending clinics once a month,” receiving cheers from the crowd.
He also welcomed constructive criticism from the opposition regarding the country’s economic trajectory but stressed the importance of critics presenting a truthful account of the state of the Kenyan economy when President Ruto assumed office.
