New disclosures by the National Treasury show that Kenya’s debt repayment reached Sh600.73 billion in the period to December 2023.
This meant that despite a rise in revenue collection, Kenyans had little to smile about as debt gobbled up 57 percent of the Sh1.05 trillion tax revenues.
This left the government with only 43 percent of the revenue generated, for development, salaries and running of public services.
The statement of actual revenues & net exchequer issues as of 31st Dec 2023 shows that Kenyans should tighten their belts this year, as the administration Kenya Kwanza administration has signalled higher repayments this year as a result of the shilling devaluation.
The exchequer has revised upwards this year’s total public debt obligation to Sh1.866 trillion from the initial estimate of Sh1.75 trillion.
