The National Assembly has debated the first ever Report dedicated to oversight of the Consolidated Fund Service (CFS) in the history of Kenyan Parliament. 

In the Report from the Committee on Public Debt and Privatization Chaired by Hon. Makali Mulu (Kitui Central), recommends that the National Treasury should in future consider availing to Parliament a statement indicating all obligations of the National Government, at the time of submission of the Budget Estimates. 

The Report analyzed the CFS expenditure for the Supplementary Estimates No.1 FY/2022/23.

The Committee analyzed a complication of all expenditures which are a direct charge to the Consolidated Fund.

These expenditures include the public debt servicing, pensions payment, salaries and allowances for constitutional and independent office holders among other expenditures.

This is the inaugural Report of the Committee on Public Debt and Privatization which was first established under the 13th Parliament.

According to the Report a review of the Supplementary Estimates No.1 FY/2022/23 indicated that the CFS expenditures would amount to Kshs. 1.55 Trillion; the highest today.

The Committee found this expenditure to be 104% of the Recurrent Expenditure (Kshs.1.496 Trillion) and 255% of Development Expenditure (Kshs. 609.1 Billion).

While moving a motion for adoption of the Report in the House, Hon. Mulu told Members that as of December 2022 Public Debt stood at Kshs. 9.15 Trillion and that the Country would require Kshs. 1.36 Trillion to service it's interests and redemption by June 2023.

"Of primary concern is the cost of domestic debt servicing which accounts for 73% of the total public debt expenditures," said Hon. Mulu.

Members who weighed in on the debate said the House should in future consider debating Reports on CFS expenditures prior to passage of the subsequent financial year's Budget, to give a more objective balance between Revenue projections and public expenditures and to help resolve the debt crisis.