Kenya's Ticking
Debt Bomb
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Kenya's Budget Deficit Continues to Increase
The country's debt-to-GDP ratio (an indicator of a particular country's ability to pay back its debts) has continued to skyrocket, rising from 59% in 2018 to 67% in 2022. According to the World Bank, the sustainable ratio upper limit is about 77%, beyond which an economy can experience significant downturns. As long as our budget exceeds our revenue, new debt must be incurred to make up for the deficit.
Methodology
Based on the latest available data on the amount of debt owed, and the annual interest that it accrues, we are to calculate how much our debt increases by every second. Adding that (over time) to the principal amount gives us the values shown in the clock above.
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Ksh. 680,000,000,000
Interest Per Year
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Ksh. 13,368,340,000,000
Estimated Gross Domestic Product (GDP)
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55,100,586
Population of Kenya (2023)
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Ksh. 25,162
Interest Per Second
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72.4%
Calculated Debt as % of GDP
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Ksh. 175,802
Debt Per Citizen (May 2023)
Data Sources
Data is aggregated from the following sources. We urge you to take a look at them for a more in-depth understanding of the situation. Click on a link below for more information:
- Central Bank of Kenya: Monthly indicators releases - Public debt management office, National Treasure: annual reports - IMF - World Bank