Members of the National Assembly follow proceedings during a past session.

📋 Breaking It Down

MPs are seeking to tighten financial laws to compel the National Treasury to set up a real time comprehensive Public Debt Registry, including matched debt service expenditure.

The National Assembly’s Public Petitions committee has recommended changes to the Public Finance Management Act, 2012 to expressly require the Treasury to establish, and maintain an up-to-the-minute comprehensive Public Debt Registry, including matched debt service expenditure.

The committee, however, declined to grant a prayer on the 24-month debt freeze, but recommends that the National Treasury ensures strict compliance with the statutory debt anchor target of 55 percent of the gross domestic product (GDP) by October 2028 and sustains fiscal consolidation efforts beyond this target.

📌 What You Need to Know

“The committee recommends that within 90 days upon tabling of this report, the National Treasury, submits to the National Assembly amendments to the Public Finance Management Act, 2012 and its attendant Regulations, to expressly require the National Treasury to establish, and maintain an up-to-the-minute comprehensive Public Debt Registry, including matched debt service expenditure,” Eric Karemba said in a report.

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“The committee recommends that the National Treasury enhances public participation and stakeholder engagement during the preparation of the Medium-Term Debt Management Strategy and other key debt policy documents, including use of social media.”

The recommendations follow a public petition on the strengthening oversight, transparency and intergenerational equity in public debt governance filed by Beatrice N. Waiyaki and others representing Kiambu County Empowerment Network and the Bunge Mashinani Initiative.

Kenya's public debt had increased significantly, from approximately Sh2.4 trillion in 2014 to over Sh12.86 trillion, equivalent to 69.4 per cent of GDP in as at April 2026, raising concerns regarding the sustainability of the country's fiscal position and the implications of the debt burden for present and future generations.

The Parliamentary Budget Office (PBO) data shows that domestic debt accounted for Sh7.19 trillion, representing approximately 56 of the total debt stocks, while external debt amounted to Sh5.67 trillion, or approximately 44 per cent.

📰 Source: Nation Africa