Kenya’s parliamentary committee recommends creating public debt register — Nation Kenya
Kenya’s National Assembly Petitions Committee has recommended amending the Public Finance Management Act of 2012 to require the National Treasury to create and maintain an up-to-date, comprehensive public debt register. It is to include data on debt servicing costs.
As Nation Kenya reports, the committee proposes that within 90 days of submitting its report, the Treasury submit the relevant amendments to the law and related regulations to the National Assembly. Lawmakers also recommended strengthening public participation and engagement with stakeholders in preparing the medium-term debt management strategy and other key documents, including through social media.
Debt exceeds the established benchmark
The committee noted that Kenya’s public debt exceeds the legally established benchmark of 55% of GDP in present value terms. According to the Parliamentary Budget Office, as of April 2026, the country’s total public debt exceeded 12.86 trillion shillings, or 69.4% of GDP. In 2014, it stood at about 2.4 trillion shillings.
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Domestic debt was estimated at 7.19 trillion shillings, accounting for approximately 56% of total public debt, while external debt stood at 5.67 trillion shillings, or about 44%.
Two-year borrowing pause rejected
The committee did not support the petition’s demand for a 24-month suspension of borrowing. The report states that such a pause could cause significant macroeconomic shocks. Instead, the National Treasury was advised to strictly adhere to the debt target of 55% of GDP by October 2028 and continue fiscal consolidation after reaching that level.
Kenya’s budget deficit for the 2025/2026 financial year was estimated at approximately 1.2 trillion shillings. Public debt servicing costs in the 2026/2027 financial year are projected at about 2.31 trillion shillings. The committee emphasized that existing debt data are scattered across several reports, making it difficult for independent users to obtain complete and timely information.
