According to a plan by Treasury, debt servicing obligation is expected to rise in the next three years as more loans mature. In 2014, debt to GDP touched 44.2 per cent, before settling at 48.8 per cent in 2015. In 2016, debt to GDP was at 53.8 per cent before hitting an all-time high of 57.1 per cent last year. It is targeting debt to GDP of 48.6 per cent by June 2019 and projected to decline to 43.2 per cent of GDP by 2021. The Parliamentary Investment Committee workshop meeting in Mombasa over the weekend also added its voice to the growing concerns about surging public debt.

Source: The Star May 02, 2019 03:56 UTC