The government that takes office after the 2027 General Election will have little room for costly promises, with Kenya facing a Sh13.01 trillion debt burden, continued budget deficits and growing demands on revenue, Safina Party Secretary-General Joakim Simiyu has said.
Simiyu said politicians seeking to take power must tell Kenyans how they will deal with the country’s financial obligations and keep government running, instead of waiting until after the election to blame the administration they replace.
Speaking during an interview with Radio Generation on Friday, Simiyu said the country’s financial troubles were being driven by a shortage of cash and mounting pressure on public finances.
“Some people think that Kenya has an economic formula problem. That's not our problem. We have a liquidity problem, fiscal pressure. It doesn't matter what formula you come up with,” he said.
His remarks come as government borrowing continues to rise, with Treasury figures showing that public and publicly guaranteed debt has increased steadily over the past four financial years.
The debt stood at Sh8.76 trillion in June 2022 before rising to Sh10.28 trillion in June 2023. It reached Sh10.58 trillion in June 2024 and climbed to Sh11.81 trillion by June 2025.
The latest Treasury figures show that the debt stock reached Sh13.01 trillion by June 2026. Domestic debt accounted for Sh7.33 trillion, while external debt stood at Sh5.68 trillion.
The latest figure marked a 9.2 per cent rise from the Sh11.81 trillion recorded in June 2025.
Simiyu said the rising debt must be considered alongside the amount of money the government is able to collect, warning that a large portion of revenue is already committed to debt obligations.
“The other day, the Auditor-General said 71 percent of what we collect as revenue as the country is going to debt payment, and I remember she also said that if we continue on that trajectory, we cannot sustain it in two years,” he said.
Treasury figures show that ordinary revenue has grown over the same period, increasing from about Sh1.92 trillion in 2021/22 to Sh2.04 trillion in 2022/23.
Collections rose to Sh2.29 trillion in 2023/24 before reaching Sh2.42 trillion in 2024/25.
Despite the growth, revenue has remained below government spending, leaving the country with large fiscal gaps that have to be financed.
For the 2025/26 financial year, Treasury estimated total revenue at Sh3.35 trillion, including Sh2.74 trillion in ordinary revenue. Government expenditure and net lending were projected at Sh4.53 trillion, leaving a deficit of Sh1.18 trillion before grants.
The gap is expected to remain almost unchanged in the following financial year.
For 2026/27, Treasury projects total revenue of Sh3.53 trillion against expenditure and net lending of Sh4.70 trillion. This would leave a deficit of about Sh1.17 trillion, while ordinary revenue is expected to reach Sh2.90 trillion.
Simiyu said the figures should force political parties to be more specific about their economic plans ahead of the 2027 election.
He said an incoming administration would have to make difficult choices because debt repayments would compete with money needed for government operations and public services.
The cost of servicing domestic debt has already increased sharply. Treasury data shows domestic interest payments stood at Sh456.8 billion in 2021/22, rising to Sh533.1 billion in 2022/23 and Sh622.5 billion in 2023/24.
The amount rose further to Sh776.3 billion in 2024/25.
Treasury estimates total interest payments at Sh1.13 trillion for 2025/26 and Sh1.14 trillion for 2026/27. Total debt service is projected at Sh2.07 trillion and Sh2.34 trillion respectively during the two financial years.
Simiyu, who is also a Nairobi Senate aspirant, said the next administration would therefore need to concentrate on improving revenue collection and controlling debt before taking on additional financial commitments.
“So you have been given 3 trillion in terms of taxes, what is 71 percent of 3 trillion? We are talking about 2.5 trillion and above. So let's say you remain with 400 billion, and you have a government that is expecting miracles because William Ruto is gone.”
He said candidates should not simply promise Kenyans lower taxes without showing how the government would replace the revenue lost from such measures.
According to Simiyu, parties seeking to form the next government should explain how their proposed policies would affect tax collection, spending and the country’s ability to meet its debt obligations.
He said the debate ahead of the 2027 polls should move beyond political slogans and focus on the practical financial problems facing the country.
Simiyu challenged presidential candidates to give voters clear answers on how they would raise money, repay debt and maintain essential government services while dealing with the financial position left behind by the current administration.
He said Kenyans should demand specific economic plans from those seeking their votes, particularly on revenue, borrowing and public expenditure.