Kenya: Net incurrence of liabilities, total (% of GDP)

Key figures

Over five years it is down 4.72 percentage points from 10.6% in 2018. Since 2014 it is up 0.35 percentage points from 5.52% in 2014.

What the numbers say

In 2023, Kenya's net incurrence of liabilities, total (% of GDP) fell 1.26 percentage points on 2022 (from 7.14% to 5.88%).

Across the 8 yearly changes before that (2015 to 2022), the average change was +0.2 percentage points and a typical year strayed about 2.32 percentage points from that (the standard deviation). This year's change was 0.6 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 3.18 percentage points in 2015 and the biggest yearly fall was 4.77 percentage points 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 there is no clear straight-line trend: a straight line explains less than 1% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

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 3rd 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

• Sri Lanka — 1st of 16: 10.07%
• Jordan — 2nd of 16: 5.94%
• Togo — 4th of 16: 5.45%
• Côte d'Ivoire — 5th of 16: 4.95%
• Uzbekistan — 6th of 16: 4.24%

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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

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).

Regional and income-group figures are computed by the World Bank as a weighted average.

All 10 values

Net incurrence of liabilities, total (% of GDP) in nearby economies

• Angola — -0.75% (2024)
• Botswana — 3.14% (2023)
• Burkina Faso — 6.42% (2024)
• Burundi — 2.23% (2021)
• Cabo Verde — 9.31% (2020)
• Cameroon — 2.38% (2021)
• Central African Republic — 3.63% (2021)
• Congo, Dem. Rep. — 0.98% (2022)
• Congo, Rep. — 1.45% (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
• Data analysis examples: 6 worked from one dataset — 3 min read
• 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 (% of GDP)?

5.88% in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2014?

It is up 0.35 percentage points from 5.52% in 2014. The highest value was 11.91% in 2021 and the lowest 5.52% in 2014.

How does Kenya rank?

3rd highest of 16 economies with data for 2023.

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

In 2023, Kenya's net incurrence of liabilities, total (% of GDP) fell 1.26 percentage points on 2022 (from 7.14% to 5.88%). Across the 8 yearly changes before that (2015 to 2022), the average change was +0.2 percentage points and a typical year strayed about 2.32 percentage points from that (the standard deviation). This year's change was 0.6 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.GD.ZS, 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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