Over the past few years Kenya has been faced with huge budget deficits forcing public debt to escalate.
Kenya’s public debt is at a crippling Ksh 7.1 trillion now and expected to hit a ceiling of Ksh 10 trillion by the end of financial year 2023/2024. This is according to the public debt management report for financial year 2020/2021.
The borrowing spree attributed to the increase in expenditure on development projects and also worsened by the Covid-19 pandemic.
The national Treasury is optimistic that the debt is sustainable but the public thinks otherwise. How can this debt issue be managed and still ensure productivity?