Former Chief Justice David Maraga, now the United Green Movement presidential flagbearer, has faulted the government’s handling of public finances, saying Kenya is losing an estimated Sh3 billion every day to corruption while unrestrained borrowing has driven public debt close to Sh13 trillion.

Speaking on Tuesday, June 16, 2026, during the “State of the Nation: The Way Forward Dialogue” at Ufungamano House in Nairobi, Maraga argued that the growing debt load is strangling businesses and has left nearly half of the 2026/2027 budget committed to repayments, with theft of public funds making the crisis worse.

He said debt service now takes up 48 per cent of the FY 2026/27 budget, limiting money for development, health, and education.

According to Maraga, the situation amounts to economic sabotage that undermines private sector growth and job creation.

He warned that ordinary Kenyans are carrying the weight through higher taxes and reduced services while billions disappear through graft networks.

The UGM flagbearer further took issue with the securitisation of tax revenues, which he termed unconstitutional and a betrayal of future generations.

“By securitising future tax revenues, the regime is unconstitutionally mortgaging the future of Kenyan youth. We must halt this economic exploitation and restore financial accountability,” Maraga declared.

He called for an immediate audit of all public debt, prosecution of officials linked to misuse of funds, and a freeze on new commercial borrowing until existing loans are accounted for.

Maraga said the country cannot tax its way out of the hole and urged a shift to disciplined spending, digitized procurement to curb leaks, and stronger oversight by Parliament and the Auditor General.

The statements add to mounting pressure on the administration over debt and corruption, with opposition leaders, civil society, and business groups demanding transparency on loan terms and spending.

Maraga's remarks come days after Treasury Cabinet Secretary John Mbadi presented the Ksh4.78 trillion budget to Parliament on June 11, 2026.

Public debt stood at Ksh12.82 trillion by March 2026, rising toward KSh13 trillion, with domestic debt at Ksh7.14 trillion and external debt at Ksh5.68 trillion.

Data shows debt stood at 67.8% of GDP as of June 2025, by February 2026, it had climbed to 69.5% of GDP.

In 2024/25, the government paid Ksh1.72 trillion in debt servicing. For the upcoming 2026/27 financial year, debt repayments are projected at nearly half the budget, about Ksh2.31 trillion, including Ksh1.25 trillion in interest.

Treasury has defended its borrowing, saying funds have gone into infrastructure and social programs, but critics argue the returns do not match the obligations.

Maraga said restoring public trust requires ending what he called “budgeted corruption” and ensuring every shilling collected benefits citizens. He pledged that a UGM government would prioritize zero-based budgeting, asset recovery, and legal reforms to make theft of public money costly.