Aiden K 
The National Treasury and Economic Planning, through the Public Debt Management Office (PDMO) and in partnership with the Institute of Public Finance, released the Annual Public Debt Management Report (APDMR) for 2023/2024, underscoring its commitment to transparency and accountability in public debt management.
The report was unveiled at a breakfast meeting in the presence of diverse stakeholders, including Civil Society Organizations, oversight institutions such as the Office Of The Controller Of Budget and the Office of the Auditor-General, Kenya, the Central Bank of Kenya, the private sector, and the media.
This highlights the Government’s ongoing efforts to enhance transparency and implement strategic debt management practices.
Key Takeaways:
Kenya’s total public debt grew by a modest 2.9% to Ksh 10.58 trillion, while external debt decreased by 5.1%. This reflects a strategic pivot towards domestic borrowing to reduce exchange rate risks and volatility.
The public debt-to-GDP ratio declined to 65.7%, down from 72% in the previous year, showing significant progress toward achieving Kenya’s sustainable debt anchor of 55% by FY 2027/28—a milestone expected to be met earlier than planned.
Debt servicing costs rose by 30%, driven by the maturity of a Eurobond.In response, the Treasury introduced sinking fund regulations to create structured savings for future debt repayments, mitigating financial strain.
Kenya’s proactive approach to debt management positions the country on a path to greater fiscal stability and economic growth.
