Kenya's public debt surges past $76bn on weak shilling
Nairobi, Feb. 20 -- Kenya's public debt shot up by Ksh1.93 trillion ($13.3 billion) in the year ended December 2023, raising the country's indebtedness to a new high of Ksh11.14 trillion ($76.83 billion).
This translated to a daily increase of Ksh5.29 billion ($36.5 million) for the entire 2023, the year when the Kenyan shilling shed 26.8 percent of its value against the US dollar.
The shilling's depreciation had a heavy impact on external public debts, accounting for 73 percent (Ksh1.4 trillion) of the Ksh1.9 trillion increase during the year.
Read: Kenya debt interest payments rise $1.6bn on weak shilling
"The gross public debt as at December 31, 2023, increased by Ksh1.93 trillion to Ksh11.1397 trillion compared to Ksh9.2 trillion ...
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