Nairobi, Feb. 4 -- The parliamentary Finance and National Planning Committee says only Sh29.8 billion will be available for development expenditure in the 2025-26 financial year, underscoring the urgent need for divestiture of State-owned enterprises (SOEs) to ease pressure on public finances.

The committee chaired by Molo MP Kuria Kimani said out of projected ordinary revenue of Sh3.321 trillion, Sh1.097 trillion will go towards interest payments on the country's ballooning debt, while Sh960 billion will be spent on the public wage bill.

Kenya's public debt currently stands at Sh12 trillion, according to recent figures from the Parliamentary Budget Office, an independent think tank that advises MPs on fiscal and budget matters.

In a p...