Kenya's public debt stood at Sh7.28 trillion as at end of December 2020, an amount National Treasury CS Ukur Yatani described as sustainable but classified as high risk. In a presentation made on his behalf to the Senate Committee on Finance and Budget, the Director-General, Public Debt Management Haron Sirma said amount was equivalent to 65.6 per cent of Gross Domestic Product. Sirma nonetheless said they want the debt ceiling increased from the current Sh9 trillion to allow the government to borrow some more. He pointed out that 57 per cent of the debt was from external borrowing while 43 per cent was sourced domestically. Sirma was outlining the ministry's strategy on refinancing maturing public debt and financing the fiscal deficit at the lowest cost and minimum risks.

Source: The Star February 22, 2021 16:41 UTC