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KENYA’S ECONOMY TO GROW DEBT NOTWITHSTANDING

Experts have indicated that Kenya’s economy will continue growing despite the high debt burden. The experts have proposed the following actions for a better economic future:

  1. Control the existing debt levels
  2. review the law on interest rate cap
  3. improve ease of doing business among many other actions

According to Kenya Revenue Authority (KRA) taxes collected increased from Ksh. 670 billion in 2010/2011 to Ksh. 1.4 trillion in FY 2016/17. At the same time public debt has increased from 40.7% in 2011 to 54.4% currently.

According to Cytonns Investment Public Limited Company (PLc), huge levels of public debt was as a result of construction of mega development projects such as Standard Gauge Railway (SGR).

Standard Gauge Railway station
Photo: Standard Gauge Railway station in Kenya 

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