Even before changes to the public debt limit through amendments to the Public Finance Management Act are effected, the National Treasury is already in breach of the limit it seeks. The changes currently under the public participation stage seek to change Kenya’s debt limit from the current ceiling of Ksh.9 trillion to no more than 55 per cent of GDP at Present Value (PV) terms. The PV calculation of public debt compares the stock of debt as a share of the economy of GDP less grants and interest payments on external debt at the time of its contracting.