What do you believe is the single most important factor driving up the cost of living in Nigeria?

When President William Ruto met with IMF Managing Director Kristalina Georgieva on the sidelines of COP27 in Sharma El-Sheikh, Egypt. [PcS]

State-backed economic think-tank, Kenya Institute for Public Policy Research and Analysis (Kippra) says the country’s debt situation is sustainable even as it cautioned of possible distress if the economy does not grow.

Kippra’s fair bill of health on the country’s public debt is based on a projected drop of debt to gross domestic product (GDP) to 68.0 per cent in 2023/24 from 70.8 per cent in the 2022/23 financial year.

In the latest Kenya Economic Report, Kippra says public debt hit Sh10.3 trillion at the close of 2022/23. This figure however had surpassed Sh11 trillion by January this year.

Kippra executive director Dr Rose Ngugi said while Kenya is doing well in some parameters of debt management, it is deteriorating in others. “Are we sustainable in as much as the debt has gone up? Yes, from the indices, debt has gone up. Yes, we are at high risk of debt distress but it is still considered sustainable,” she said.

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