A parliamentary committee wants the Sh10 trillion debt ceiling retained for the current financial year, putting Treasury’s borrowing plans in limbo.
In a newly published report, the National Assembly’s Select Committee on Public Debt and Privatisation said that any fresh borrowings by the Ruto government should be capped within the ceiling.
“Any borrowing undertaken by the National Treasury in the financial year 2023/24 should not exceed the Sh10 trillion limit approved debt ceiling by Parliament,” says the committee’s recommendations in their report on the Treasury’s 2023 Medium Term Debt Management Strategy.
The committee report says that National Treasury data shows Kenya’s public debt stood at Sh9.15 trillion as of December 2022, just shy of the ceiling.
