Ruto’s govt borrowing Ksh3.3M per minute – Jimi Wanjigi
By Francis Muli, May 17, 2026Businessman and politician Jimi Wanjigi has launched a fresh attack on President William Ruto over Kenya’s growing debt burden, warning that the country’s economic crisis will outlive the current administration unless urgent fiscal reforms are undertaken.
Speaking on the state of the economy during an interview with a local TV station, Wanjigi claimed the government is borrowing at an alarming rate to sustain recurrent expenditure rather than productive investment.
“The reality is that William Ruto will go, but this problem does not go with him. This government, the borrowing they are doing per day, is now close to 5 billion shillings per day, 3.3 million shillings per minute, to sustain recurrent expenditure,” said Wanjigi.
“William Ruto is facing nothing else in the next election; it is him versus the economy, and anybody who sits is going to face the same monster, the economy.”
Wanjigi’s remarks come as Kenya prepares for the implementation of the 2026/27 budget, which projects another major borrowing cycle amid rising debt servicing obligations and widening fiscal pressure.
According to the National Treasury’s 2026 Budget Policy Statement and budget estimates, the government plans total expenditure of about Ksh4.7 trillion against projected revenue of Ksh3.53 trillion, leaving a financing gap of more than Ksh1.1 trillion that will be bridged through borrowing.
Treasury estimates indicate the government plans to borrow approximately Ksh890.4 billion from the domestic market and another Ksh225.4 billion externally in the 2026/27 financial year.
The growing borrowing requirements come as Kenya’s public debt continues to climb. Treasury data cited in the Budget Policy Statement shows the country’s public debt stood at approximately Ksh11.8 trillion as of June 2025, equivalent to about 67.8 per cent of GDP.
At the same time, debt servicing remains one of the biggest pressures on public finances. Estimates for the 2026/27 budget show Kenya could spend nearly Ksh2.3 trillion on debt repayment and interest obligations alone, consuming a significant portion of ordinary revenue collections.
The government has defended its borrowing strategy as necessary for financing development projects, stabilising the economy and supporting fiscal operations while pursuing gradual deficit reduction.
However, critics argue that increasing dependence on debt, especially domestic borrowing, risks crowding out private sector credit, increasing taxes and placing future administrations under severe fiscal strain.
Wanjigi has repeatedly positioned himself as a critic of Kenya’s debt-driven economic model, warning that rising public borrowing, high taxation and increased cost of living are becoming central political issues ahead of the next General Election.