Kenya warned against over-borrowing as the country faces uncertain times | Business Today

As the country continues to grapple with the VAT taxes imposed on petroleum products, the renaissance insurance has warned of radical shift in inflation in the country. The firm feels that the consequences of the fuel rise will be the rise in the prices of food in the country which might drive the inflation 1 to 2 percent higher. The independent investment bank however feels that the country doesn’t have to worry about the debts and should instead go out and borrow more to put into investments on electricity and education which according to them are the key drivers of economies. They moreover welcomed the move by the government, in the supplementary budget, to slash spending and they feel that the government is doing enough to prevent Kenya from going the Argentina way. SUBSCRIBE to our YouTube channel for more great videos: https://www.youtube.com/user/KTNClassics Follow us on Twitter: https://twitter.com/KTNNews Like us on Facebook: https://www.facebook.com/KTNNewsKenya For more great content go to http://www.standardmedia.co.ke/ktnnews and download our apps: http://std.co.ke/apps/#android KTN News is a leading 24-hour TV channel in Eastern Africa with its headquarters located along Mombasa Road, at Standard Group Centre. This is the most authoritative news channel in Kenya and beyond.