No stopping debt binge as State borrows Sh440b in 7 months

 Committee on Appointments Vice Chair  National Assembly  Deputy speaker Gladys Boss Shollei (left) with committee member Samburu West MP Naisula Lesuuda  at the Mini Chambers, County Hall, Nairobi. January 14th,2025. [Elvis Ogina, Standard]

The Treasury has revealed that the Kenya Kwanza government borrowed a staggering Sh440 billion over the past seven months, pushing the total stock of public and publicly guaranteed debt to Sh11.02 trillion as of January 2025. 

According to the Public Financial Management (PFM) framework, Kenya must meet a threshold of 55 per cent (+5 per cent) of GDP by 2028, but this concerning number now represents 65.7 per cent of GDP, well above that threshold.