Inside Kenya's Sh13 trillion debt bomb: Ruto says he borrowed less, treasury data says otherwise

National Treasury Cabinet Secretary John Mbadi when he appeared before the National Assembly’s Trade committee at Bunge Towers in Nairobi on July 21, 2026. [Elvis Ogina, Standard]

Kenya’s public debt crossed the Sh13 trillion mark in June, Treasury data shows, with the country’s fiscal watchdog and the International Monetary Fund warning that rising refinancing needs are squeezing public finances even as President William Ruto insists his administration has slowed borrowing and stabilised the economy.

The National Treasury’s June 2026 Public Debt Bulletin put total public and publicly guaranteed debt at Sh13.120.87 trillion as of end-June, 68.5 per cent of GDP, well above the 55 per cent legal ceiling.