Each and every Kenyan needs to pay at least Sh100,000 in order to clear the country's mushrooming public debt that reached Sh4.58 trillion in November. Kenya recorded its highest public debt in 2017. Latest data by the Central Bank of Kenya record the government's internal debt at Sh2.22 trillion in November last year, while the external debt stood at Sh2.31 trillion in September 2017.An analysis of Kenya's public debt reveals that the government borrowed an average of Sh62.7 billion per month last year, compared to Sh54 billion in 2016 and Sh55 billion the previous year. The public debt moved from Sh3.89 trillion in January last year to reach Sh4.58 trillion in November, meaning that a total of Sh690 billion was borrowed during the period.
The debt is expected to swell further this year, with the 2017 Budget Review and Outlook (BROP) report released in September last year indicating that Kenya's debt-to-GDP ratio is expected to rise to 59 per cent in 2018/2019, up from the current 57 per cent, due to upcoming infrastructure projects and an expected drop in revenue collection due to a myriad of microeconomics experienced in the country last year.
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