Kenya to hit Sh9 trillion debt ceiling in a few months

 

National Treasury CS Ukur Yatani [Elvis Ogina, Standard]

Kenya could hit the Sh9 trillion by the end of next year if the current pace of borrowing is left unchecked. Auditor General Nancy Gathugu yesterday told the Senate Committee on Finance and Budget that public debt is progressively increasing and approaching the approved Sh9 trillion ceiling.

“The outstanding public debt stands at Sh7.6 trillion as at 30th June 2021 which represents 84 per cent of the maximum ceiling...