Just A Reminder Of Kenya’s Debt, 7.7T.
Kenya´s total debt portfolio hits Ksh 7.7T in the first half.
Kenya’s total debt portfolio hit 7.7 trillion shillings as of the end June, this is according to the latest Central Bank of Kenya, which further revealed that the country’s debt stock has been on an upward trajectory over the last 12 months, to stand at 6.7 trillion shillings.
The report comes in the wake of public outcry over the government’s growing appetite for debt.
Kenya’s public debt is projected to rise to 8.6 trillion shillings by June 2022 as highlighted in the 2021 Budget Policy Statement and 9.4 billion shillings in the subsequent financial year.
As of 30th June, Kenya’s total debt hit 7.7 trillion shillings comprising 3.6 billion shillings domestic debt and 4 billion shillings external debt.
The National Treasury maintains that the country’s debt remains sustainable though its carrying capacity continues to decline.
Further, the treasury is backing a debt ceiling expansion from 9 trillion shillings to a higher figure.
Going forward Ukur’s administration plans to have the day-to-day management and operations of public debt management undertaken by the Public Debt Management Office to enhance efficiency, strengthen accountability and transparency.