About Sh33 out of every Sh100 spent by the government in the five successive budget cycles to 2023 was borrowed, official data shows, signalling the continued dependence on debt to finance the annual budget and its implication on the public debt load and sustainability.
The National Treasury has estimated total deficit financing between the 2018/19 financial year and the 2022/23 cycle at Sh4.691 trillion in a period in which actual total government expenditures were tabulated at Sh14 trillion.
