The country’s public debt is racing towards a record Sh13 trillion, official government data shows, even as President William Ruto’s administration doubles down on domestic borrowing following aggressive forays into international markets.

With just 15 months to go before general elections, economists and the Controller of Budget have separately warned that ballooning debt repayments, which already consume nearly 80 per cent of tax revenues, are crowding out the private sector and raising the spectre of a full-blown debt service crisis. 

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