Kenya: Net incurrence of liabilities, total (current LCU)

Key figures

Over five years it is down 10.76% from 990.08 billion in 2018 (2.25% a year on average, compounded). Since 2014 it is up 166.46% from 331.59 billion in 2014 (11.5% a year on average, compounded).

What the numbers say

In 2023, Kenya's net incurrence of liabilities, total (current LCU) fell 8.3% on 2022 (from 963.4 billion to 883.55 billion).

Across the 8 yearly changes before that (2015 to 2022), the average change was +17.9% and a typical year strayed about 31.5% from that (the standard deviation). This year's change was 0.8 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 80.8% in 2015 and the biggest yearly fall was 32.8% in 2022. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2014 to 2023 the straight-line trend is upward, about 73.65 billion a year. A straight line explains 52% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2023, Kenya had the 7th highest value of the 16 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Kenya in the 2023 ranking

• Kazakhstan — 3rd of 16: 2.84 trillion
• Sri Lanka — 4th of 16: 2.77 trillion
• Côte d'Ivoire — 5th of 16: 2.43 trillion
• Togo — 7th of 16: 321.48 billion
• Iceland — 8th of 16: 113.95 billion
• Ghana — 9th of 16: 27.99 billion

What this measures

Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 10 values

Net incurrence of liabilities, total (current LCU) in nearby economies

• Angola — -778.29 billion (2024)
• Botswana — 8.29 billion (2023)
• Burkina Faso — 900.19 billion (2024)
• Burundi — 181.93 billion (2021)
• Cabo Verde — 16.42 billion (2020)
• Cameroon — 593.86 billion (2021)
• Central African Republic — 50.67 billion (2021)
• Congo, Dem. Rep. — 1.39 trillion (2022)
• Congo, Rep. — 119.5 billion (2021)
• Côte d'Ivoire

More public sector data for Kenya

• Military expenditure (current USD) — 1.47 billion (2025)
• Military expenditure (current LCU) — 190.01 billion (2025)
• Military expenditure (% of GDP) — 1.07% (2025)
• Arms imports (SIPRI trend indicator values) — 117 million (2025)
• Military expenditure (% of general government expenditure) — 4.63% (2025)
• Armed forces personnel, total — 24,000 (2020)
• Armed forces personnel (% of total labor force) — 0.11% (2020)
• CPIA business regulatory environment rating (1=low to 6=high) — 4 (2025)
• CPIA debt policy rating (1=low to 6=high) — 3 (2025)
• CPIA economic management cluster average (1=low to 6=high)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Kenya's net incurrence of liabilities, total (current LCU)?

883.55 billion in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2014?

It is up 166.46% from 331.59 billion in 2014 (11.5% a year on average, compounded). The highest value was 1.43 trillion in 2021 and the lowest 331.59 billion in 2014.

How does Kenya rank?

7th highest of 16 economies with data for 2023.

Is the latest change in net incurrence of liabilities, total (current LCU) unusual for Kenya?

In 2023, Kenya's net incurrence of liabilities, total (current LCU) fell 8.3% on 2022 (from 963.4 billion to 883.55 billion). Across the 8 yearly changes before that (2015 to 2022), the average change was +17.9% and a typical year strayed about 31.5% from that (the standard deviation). This year's change was 0.8 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator GC.LBL.TOTL.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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