Posted 2/20/2024, 2:43:08 AM
Kenya's Public Debt Jumps Over Sh1.9 Trillion in 2023, Driven by Weak Shilling and External Loans
- Kenya's public debt rose by Sh1.93 trillion in 2023 to Sh11.14 trillion, a daily increase of Sh5.29 billion
- Weakening of the Kenyan shilling accounted for 73% (Sh1.4 trillion) of the debt increase
- External public debt rose by Sh1.416 trillion to Sh6 trillion due to loan disbursements and currency fluctuations
- Multilateral loans saw the biggest external debt increase of $1.62 billion
- Domestic debt rose by Sh514.48 billion to Sh5 trillion, led by non-bank and commercial bank debts
