National debt has been increasing since 2014 (25.65 billion dollars). In 2018, it amounted to 52.37 billion dollars and was projected to be 109.9 billion dollars in 2024 (Plecher, 2019). This is because Kenya has been relying heavily on public debt, aid and grants as a source of financing thus increasing the public debt stock and affecting private investment (Ngugi, 2016).

References:

Ngugi, W. N. (2016). Effect of Public Debt on Economic Growth in Kenya. Kenyatta University.http://erepository.uonbi.ac.ke/bitstream/handle/11295/98782/Kobey_Effect+Of+Public+Debt+On+Economic+Growth+In+Kenya.pdf?sequence=1

Plecher, H. (2019). Kenya: National debt from 2014 to 2024 (in billion U.S. dollars).