The finance minister states that Kenya aims to achieve a critical debt ratio of 52.8% by 2027–2028

According to a statement made by Finance Minister John Mbadi on Wednesday, Kenya’s government wants to reduce its overall debt-to-GDP ratio from the current 58.1% to 52.8% by the 2027–2028 fiscal year, which would bring it within the necessary range of 55% of earnings.

The East African country has been dealing with high debt payment expenses and a wall of maturities, and last year’s attempts to increase tax collection were shelved due to demonstrations.

Spending pressures have subsequently compelled a further growth to 4.9% of GDP, the finance ministry said, although the government had to relinquish efforts to lower this year’s budget deficit to 3.5% due to the consequences from the social turmoil, leaving it at 4.3%.