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Home » Kenya’s public debt

Kenya’s public debt

NyongesaSande News Desk by NyongesaSande News Desk
2 years ago
in National
Reading Time: 14 mins read
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Coat of arms of Kenya

Coat of arms of Kenya

Kenya’s public debt has been on an upward trend, reaching approximately $71.5 billion in September 2023. The country, one of the fastest-growing economies in Sub-Saharan Africa, has seen its public debt increase notably, from Kshs 8.6 trillion in June 2022 to Kshs 10.2 trillion in June 2023. This surge in debt has raised the debt-to-GDP ratio to 70.2%, significantly above the International Monetary Fund’s threshold of 50% for developing countries. The composition of Kenya’s debt is split between external and domestic sources, with a shift towards external borrowing observed in 2023. The external debt accounted for 54.3% of the total debt by September 2023. This increase in public debt, coupled with factors like the depreciation of the Kenyan Shilling and external factors like the conflict in Eastern Europe, has heightened concerns regarding debt sustainability and its impact on the country’s fiscal and macroeconomic stability【source】【source】.

The tables below shows the trends of public debt in Kenya, including both domestic and external debt.

N.B. Figures are in billions of Kenya Shillings. For example, 11,139.69 in full is 11,139,690,000,000

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*Provisonal figures

YearMonthDomestic DebtExternal DebtTotal
2023*January*5,058.04*6,189.97*11,248.01*
2023December5,050.116,089.5811,139.69
2023November4,990.755,896.5010,887.25
2023October4,913.035,746.3210,659.35
2023September5,667.804,917.4710,585.27

Source: Central Bank of Kenya Weekly Bulletins

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N.B. Figures are in millions of Kenya Shillings. For example, 10,526,429.95 in full is 10,526,429,950,000.

YearMonthDomestic DebtExternal DebtTotal
2023August4,912,338.9285,614,091.02410,526,429.95
2023July4,873,527.3125,542,638.32110,416,165.63
2023June4,832,112.065,446,560.93510,278,672.99
2023May4,549,646.5315,137,162.5859,686,809.116
2023April4,542,350.5425,092,502.5839,634,853.125
2023March4,539,592.174,851,094.809,390,686.97
2023February4,551,561.274,709,715.169,261,276.43
2023January4,501,714.134,681,115.489,182,829.61
2022December4,472,838.524,673,144.139,145,982.65
2022November4,435,937.164,462,891.068,898,828.22
2022October4,386,094.344,359,569.498,745,663.83
2022September4,366,278.694,334,790.828,701,069.51
2022August4,335,273.444,327,930.658,663,204.08
2022July4,310,691.544,299,821.208,610,512.74
2022June4,288,332.964,290,775.578,579,108.53
2022May4,268,656.814,295,102.468,563,759.27
2022April4,226,843.404,243,534.448,470,377.84
2022March4,191,771.004,209,560.228,401,331.22
2022February4,181,420.484,157,763.288,339,183.76
2022January4,110,120.514,155,788.448,265,908.95
2021December4,032,368.184,174,371.538,206,739.71
2021November4,008,077.304,109,282.858,117,360.15
2021October3,959,523.304,083,124.548,042,647.84
2021September3,937,777.454,062,504.788,000,282.23
2021August3,864,875.784,054,862.857,919,738.63
2021July3,792,146.894,020,629.307,812,776.19
2021June3,697,093.184,015,299.387,712,392.57
2021May3,686,891.723,799,018.817,485,910.53
2021April3,632,914.803,778,131.447,411,046.24
2021March3,569,840.573,769,866.747,339,707.31
2021February3,531,182.933,814,288.777,345,471.70
2021January3,532,561.523,819,699.667,352,261.18
2020December3,488,541.183,793,285.247,281,826.42
2020November3,482,653.563,771,808.477,254,462.03
2020October3,457,644.633,705,644.247,163,288.87
2020September3,457,106.503,663,491.227,120,597.72
2020August3,402,500.733,666,321.297,068,822.02
2020July3,273,551.443,638,506.496,912,057.93
2020June3,178,421.283,515,810.786,694,232.06
2020May3,153,143.943,496,428.846,649,572.77
2020April3,119,415.803,317,330.986,436,746.77
2020March3,070,189.383,212,634.236,282,823.61
2020February3,040,964.553,117,038.576,158,003.12
2020January3,003,700.303,112,897.956,116,598.25
2019December2,942,103.543,106,822.966,048,926.50
2019November2,917,362.293,114,959.696,032,321.98
2019October2,897,141.363,127,601.266,024,742.62
2019September2,851,639.213,111,767.285,963,406.49
2019August2,875,502.653,133,543.346,009,045.99
2019July2,843,666.893,160,057.466,003,724.35
2019June2,785,483.133,023,139.475,808,622.60
2019May2,772,613.712,834,844.045,607,457.75
2019April2,740,905.642,842,481.025,583,386.66
2019March2,702,933.272,721,597.465,424,530.74
2019February2,690,972.032,707,287.175,398,259.20
2019January2,604,189.402,729,478.575,333,667.97
2018December2,548,768.782,723,734.275,272,503.04
2018November2,563,418.632,709,008.395,272,427.03
2018October2,535,751.892,654,689.445,190,441.33
2018September2,540,833.742,605,334.585,146,168.32
2018August2,493,706.782,611,403.105,105,109.88
2018July2,513,046.502,601,071.155,114,117.65
2018June2,478,835.092,560,199.435,039,034.52
2018May2,447,575.212,573,126.245,020,701.44
2018April2,415,234.642,562,178.534,977,413.17
2018March2,371,650.532,512,430.944,884,081.46
2018February2,338,213.712,563,074.054,901,287.76
2018January2,247,295.022,377,522.474,624,817.49
2017December2,220,345.352,349,284.444,569,629.79
2017November2,228,429.022,357,226.484,585,655.50
2017October2,188,509.462,353,124.934,541,634.39
2017September2,172,835.152,310,198.994,483,034.13
2017August2,135,933.942,309,775.394,445,709.33
2017July2,123,788.592,305,538.334,429,326.92
2017June2,111,710.442,294,735.884,406,446.32
2017May2,045,471.632,187,224.334,232,695.96
2017April1,979,865.652,167,254.834,147,120.48
2017March1,945,253.272,159,068.944,104,322.21
2017February1,901,820.241,993,173.803,894,994.04
2017January1,894,094.991,992,795.153,886,890.14
2016December1,930,855.011,896,443.053,827,298.06
2016November1,918,656.991,834,914.333,753,571.32
2016October1,872,102.821,844,474.963,716,577.78
2016September1,854,554.561,849,019.873,703,574.43
2016August1,815,930.731,803,260.483,619,191.22
2016July1,808,641.641,797,696.383,606,338.02
2016June1,815,470.501,803,256.303,618,726.80
2016May1,750,326.781,680,631.833,430,958.61
2016April1,689,039.251,685,269.163,374,308.41
2016March1,646,527.481,665,578.043,312,105.52
2016February1,605,227.981,646,555.213,251,783.19
2016January1,522,769.881,654,744.493,177,514.38
2015December1,540,579.131,615,184.203,155,763.33
2015November1,516,373.471,562,515.563,078,889.04
2015October1,454,245.391,490,713.762,944,959.15
2015September1,388,262.311,550,232.742,938,495.05
2015August1,403,100.201,530,678.612,933,778.82
2015July1,418,568.231,473,143.702,891,711.93
2015June1,420,444.381,408,613.592,829,057.97
2015May1,407,811.191,381,156.982,788,968.18
2015April1,415,431.511,326,835.192,742,266.71
2015March1,397,125.721,278,107.872,675,233.59
2015February1,353,302.651,296,748.462,650,051.11
2015January1,334,642.801,163,350.792,497,993.59
2014December1,307,748.711,170,696.282,478,444.99
2014November1,303,363.311,088,951.542,392,314.85
2014October1,254,913.421,088,832.152,343,745.57
2014September1,260,874.561,087,827.672,348,702.23
2014August1,281,093.661,090,984.322,372,077.98
2014July1,296,444.731,089,655.772,386,100.50
2014June1,284,327.251,085,928.572,370,255.82
2014May1,232,041.55957,893.232,189,934.78
2014April1,216,759.23950,981.152,167,740.39
2014March1,231,183.10940,402.992,171,586.09
2014February1,229,416.28937,328.352,166,744.63
2014January1,200,901.86920,500.712,121,402.56
2013December1,189,182.59922,369.152,111,551.74
2013November1,170,053.22912,234.312,082,287.54
2013October1,174,782.27887,991.232,062,773.50
2013September1,168,115.36889,313.512,057,428.87
2013August1,116,676.22887,560.002,004,236.22
2013July1,078,604.00875,230.001,953,834.00
2013June1,050,628.57843,562.271,894,190.84
2013May1,074,797.69832,238.141,907,035.82
2013April1,065,609.39816,796.561,882,405.95
2013March981,910.93812,700.171,794,611.10
2013February943,750.18826,267.681,770,017.86
2013January978,335.91833,609.461,811,945.37
2012December971,265.44821,972.821,793,238.26
2012November958,438.68824,583.121,783,021.80
2012October929,321.62812,307.841,741,629.46
2012September922,196.19802,457.331,724,653.52
2012August901,934.27771,760.001,673,694.27
2012July872,160.52767,390.001,639,550.52
2012June858,829.55774,550.001,633,379.55
2012May889,056.81721,040.001,610,096.81
2012April896,036.72700,900.001,596,936.72
2012March887,871.40676,330.001,564,201.40
2012February877,292.72663,050.001,540,342.72
2012January809,278.11686,718.481,495,996.59
2011December799,880.06685,607.921,485,487.98
2011November803,894.34728,645.251,532,539.59
2011October794,565.56810,011.601,604,577.16
2011September764,274.59799,834.031,564,108.62
2011August776,852.60768,510.851,545,363.45
2011July781,713.03744,486.601,526,199.63
2011June764,222.80722,888.311,487,111.11
2011May746,574.73675,887.121,422,461.85
2011April735,460.06652,675.731,388,135.79
2011March754,048.10642,847.921,396,896.02
2011February746,670.28630,400.031,377,070.31
2011January730,197.77615,604.981,345,802.75
2010December720,207.97599,930.461,320,138.43
2010November711,448.98599,251.461,310,700.44
2010October696,132.65598,080.461,294,213.11
2010September704,702.77594,223.001,298,925.77
2010August698,047.35566,166.881,264,214.23
2010July667,803.42562,941.951,230,745.37
2010June660,267.68565,452.001,225,719.68
2010May650,261.96541,976.711,192,238.67
2010April653,614.42537,424.841,191,039.26
2010March639,116.32538,157.991,177,274.31
2010February607,512.61525,369.181,132,881.79
2010January580,721.47525,552.751,106,274.22
2009December588,970.31588,970.311,177,940.63
2009November562,926.79521,232.481,084,159.26
2009October567,125.13523,899.661,091,024.79
2009September550,613.80524,982.601,075,596.40
2009August547,182.36530,075.391,077,257.75
2009July530,400.97532,144.511,062,545.48
2009June518,346.15535,143.701,053,489.84
2009May489,234.39517,929.101,007,163.49
2009April497,450.16511,981.591,009,431.75
2009March474,749.81513,623.00988,372.81
2009February478,896.43514,635.34993,531.77
2009January454,266.44512,475.65966,742.10
2008December456,227.91516,671.33972,899.25
2008November451,392.10450,248.35901,640.45
2008October454,685.97434,487.59889,173.56
2008September449,333.84432,954.02882,287.86
2008August433,489.36433,670.73867,160.09
2008July428,148.13432,808.95860,957.07
2008June430,611.73439,967.00870,578.73
2008May442,684.75429,644.66872,329.41
2008April437,870.94425,992.78863,863.72
2008March444,736.37425,086.89869,823.26
2008February434,621.39425,976.18860,597.57
2008January432,183.90424,205.02856,388.92
2007December438,059.11406,923.00844,982.11
2007November426,062.44424,243.21850,305.66
2007October418,488.14419,738.84838,226.99
2007September426,821.36408,680.79835,502.14
2007August415,915.04409,066.12824,981.16
2007July410,229.01410,512.75820,741.77
2007June404,690.11396,564.00801,254.11
2007May390,795.61419,743.45810,539.06
2007April390,491.89420,265.23810,757.12
2007March386,287.74409,055.74795,343.48
2007February385,824.93416,510.41802,335.34
2007January378,127.61417,467.73795,595.34
2006December385,121.22407,742.55792,863.77
2006November381,034.85424,933.07805,967.92
2006October375,524.02424,414.09799,938.11
2006September371,591.47422,647.93794,239.41
2006August367,963.31431,095.63799,058.94
2006July364,835.71430,667.84795,503.56
2006June357,838.95431,236.83789,075.78
2006May349,489.93406,493.69755,983.63
2006April348,220.36406,531.77754,752.13
2006March346,064.04407,003.71753,067.75
2006February338,613.23407,132.44745,745.67
2006January333,950.84407,544.63741,495.47
2005December335,001.89408,601.92743,603.81
2005November333,501.48417,897.89751,399.38
2005October332,725.65418,417.49751,143.14
2005September328,799.98418,860.33747,660.31
2005August325,380.53434,850.69760,231.23
2005July324,027.42435,399.90759,427.32
2005June315,572.50433,975.65749,548.15
2005May304,975.65423,476.45728,452.10
2005April307,160.62424,345.69731,506.31
2005March296,330.22424,857.08721,187.30
2005February292,227.33445,544.58737,771.91
2005January291,222.66446,226.13737,448.80
2004December295,374.44439,992.95735,367.39
2004November302,543.91454,664.42757,208.33
2004October301,541.30454,539.95756,081.25
2004September299,745.58454,438.56754,184.14
2004August301,678.34444,460.66746,138.99
2004July303,462.12444,611.00748,073.12
2004June306,234.66443,157.43749,392.09
2004May299,347.29408,547.54707,894.83
2004April301,177.37409,950.33711,127.70
2004March302,023.58412,036.08714,059.66
2004February300,907.92407,417.62708,325.54
2004January299,701.26409,158.26708,859.52
2003December301,190.58410,149.00711,339.58
2003November303,548.41406,592.25710,140.65
2003October301,918.96409,359.85711,278.82
2003September303,252.05411,067.00714,319.05
2003August295,494.51397,991.28693,485.79
2003July292,277.47398,532.85690,810.32
2003June289,376.97407,053.00696,429.97
2003May280,928.98361,731.20642,660.18
2003April276,083.44363,605.43639,688.88
2003March270,716.28364,904.26635,620.54
2003February264,193.21367,469.40631,662.61
2003January263,986.33369,051.09633,037.42
2002December259,828.23369,729.83629,558.06
2002November255,192.66371,334.71626,527.37
2002October251,196.67373,140.09624,336.76
2002September250,808.60375,034.19625,842.79
2002August247,168.98376,868.51624,037.49
2002July242,102.05376,712.94618,814.99
2002June235,991.00377,748.00613,739.00
2002May231,773.00378,594.34610,367.34
2002April233,149.00378,475.98611,624.98
2002March229,167.00380,169.06609,336.06
2002February227,581.00381,497.47609,078.47
2002January222,711.00382,302.84605,013.84
2001December221,984.00384,302.58606,286.58
2001November217,524.00386,971.92604,495.92
2001October225,952.00389,276.05615,228.05
2001September219,165.00392,052.74611,217.74
2001August214,767.00392,335.83607,102.83
2001July205,012.00393,491.36598,503.36
2001June211,812.60393,978.00605,790.60
2001May202,880.88408,100.64610,981.52
2001April210,581.44402,308.31612,889.75
2001March200,622.58403,373.54603,996.12
2001February199,537.27402,555.40602,092.67
2001January193,332.95403,645.68596,978.63
2000December192,665.30405,355.31598,020.61
2000November195,906.00400,714.45596,620.45
2000October195,564.00400,203.03595,767.03
2000September195,520.00399,798.72595,318.72
2000August196,584.00395,710.06592,294.06
2000July202,362.00394,667.37597,029.37
2000June206,127.00395,694.00601,821.00
2000March201,463.22396,800.00598,263.22
1999December190,300.00311,953.00502,253.00
1999September183,417.00320,137.00503,554.00

Source: Central Bank of Kenya

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