Public Debt: Each Kenyan to owe creditors Sh75,000 in two years as debt hits Sh3tr

Cabinet secretary ministry of finance Henry Rotich (left) signs a bilateral agreement between Kenya and Korea at the treasury looking on is Deputy minister for political affairs Lee Kyung Soo.PHOTO BY GEORGE NJUNGE

Debt  to rise from Sh2.22 tr to Sh3 tr in the 2016/2017 financial year due to heavy borrowing

Every Kenyan child born in 2016 will have to shoulder a debt of Sh75 000, as the Government goes on a borrowing overdrive. This is after National Treasury warned that Kenya’s public debt will rise by close to Sh 1trillion over the next two years, to stand at Sh3 trillion in 2016, from the current Sh2.2 trillion.