Controller of Budget warns Kenya trapped in borrowing cycle as debt hits Sh12.82tn
Debt portfolio now makes up of approximately 60pc domestic debt and 40pc external debt, with debt servicing absorbing three-quarters of revenue...
✨ Key Highlights
Kenya's Controller of Budget, Margaret Nyakang'o, has warned that the nation is caught in a debt cycle, with Sh12.82 trillion in public debt significantly straining government finances.
- Loan repayments now consume 71% of all government revenue, leaving only 29% for essential services.
- The Controller of Budget, Margaret Nyakang'o, presented these findings to the National Assembly.
- Despite appeals to stop borrowing, Nyakang'o suggested fiscal consolidation through reduced spending and increased revenue is necessary.
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Controller of Budget Warns Kenya Trapped in Borrowing Cycle as Debt Hits Sh12.82tn - July 2026
Kenya's Controller of Budget, Margaret Nyakang'o, has warned that the nation is caught in a debt cycle, with Sh12.82 trillion in public debt significantly straining government finances. Investors have injected a staggering Sh181.4 billion into three-month Treasury bills over the past 10 weeks, presenting a short-term debt challenge for the National Treasury. The Controller of Budget has also issued a stern warning regarding Kenya's increasing public debt, highlighting its detrimental impact on development funding.
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