Editorials

EDITORIAL: Rapid accumulation of public debt unsustainable

The National Treasury building in Nairobi. Kenya has in the past four years borrowed billions of shillings to finance power generation and road construction projects. FILE PHOTO | NMG
The National Treasury building in Nairobi. Kenya has in the past four years borrowed billions of shillings to finance power generation and road construction projects. FILE PHOTO | NMG 

The rate at which Kenya is chalking up public debt is, once again, raising eyebrows.

With records showing that public debt crossed the Sh4 trillion mark by end of first quarter, and tax collection growth still sluggish, the country is no doubt at a high risk of debt repayment stress in future.

The new total public debt loosely translates to a loan burden of Sh86, 957 on the shoulder every Kenyan, including children.

The Treasury’s records show that in just 12 months to March, Kenya accumulated additional Sh782.3 billion in public debt.