Wednesday, July 10, 2024 – Kenya’s external debt has magically reduced as Kenyans continue pushing for the real answers over the money borrowed and how it was used.
The National Treasury published
Kenya's outstanding debt portfolio and loan repayments made by the government
as of March 2024.
In its monthly publication, the
Treasury indicated that Kenya's outstanding debt stood at Ksh10.39 trillion.
This was broken down to Ksh5.235 trillion for domestic debt and Ksh5.163
trillion for external debt.
A key highlight revealed in the
report was that Kenya's domestic debt increased by Ksh34 billion while the
external debt dropped by Ksh490 billion.
The Ksh490 billion drop in the
external debt was attributed to the strengthening of the shilling as was
witnessed between February and March this year.
Therefore, as of March 31,
Kenya's external debt portfolio dropped from Ksh5.65 trillion to Ksh5.163.
Meanwhile, concerning
external loan repayments, the Treasury noted that the government had paid back
loans amounting to Ksh633.19 billion for the 2023/2024 Financial Year as of the
end of March.
Unlike external debt, domestic
debt is reported to have increased in March this year. This is attributed to
additional borrowing that was done in March.
The domestic debt stock
increased by Ksh34.98 billion in March. Therefore, with this borrowing, the
external debt portfolio increased from Ksh5.2 trillion at the end of February
2024 to Ksh5.23 trillion at the end of March 2024.
Kenya's external portfolio is
expected to continue decreasing should the shilling continue to strengthen
against the dollar and other major currencies. Currently, the dollar is trading
at Ksh128.
However, the fall may be
hampered owing to the expected shortfall in the 2024/2025 budget that
the withdrawal of the Finance Bill has occasioned.
The Kenyan DAILY POST
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2 Comments
what is wrong with us all ,either we are pretending not to understand or we are ignorant,pay doctors
ReplyDeletepay teachers
do away with cas secretary
do away with first and second ladies offices
employ young people
do away with old senior citizen who have been working over time
like ambassadors we need young people to take over
woke up and work
stop arrogancy
stop wastage of resources
stop ever expenditures
This means KK administration made the money since they borrowed when KSH was up there 490B within 1year what a cool way to make Chums...
ReplyDelete