“A Child Born Today Already Owes Sh200,000,” Babu Owino Raises Alarm Over Kenya’s Rising Public Debt

 

Embakasi East Member of Parliament Babu Owino has raised concerns about the country’s growing public debt, warning that the burden is becoming heavier for ordinary citizens and future generations.

Speaking on the state of the economy, Owino said Kenya’s public debt has now reached about Sh12.3 trillion. 

According to the lawmaker, this amount includes approximately Sh6.8 trillion in domestic borrowing and about Sh5.5 trillion owed to foreign lenders.

Domestic debt refers to money borrowed by the government from within the country, mainly through local banks, pension funds, and government securities such as treasury bills and bonds. 

Foreign debt, on the other hand, involves loans obtained from international lenders, including foreign governments, global financial institutions, and international markets.