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Kenya’s outstanding domestic debt hits Kes3.49trillion
Total Public Debt As at end June 2019, the outstanding total public debt, including publicly guaranteed debt, was at Kshs 5,808,591 million (Table 1-2) compared to Kshs 5,047,234 million as at end June 2018. Domestic debt increased by Ksh 306,617 million to Kshs 2,785,452 million as at end June 2019.
Kenya’s outstanding domestic debt is estimated to currently stand at Sh3.49 trillion, for which the Treasury pays interest at between 6.99 and 13.5 per cent on an annualized basis depending on tenor of the issued securities.
External debt meanwhile stood at Sh3.77 trillion by the end of November.
In total, public debt went up by Sh560.8 billion between June and November 2020.
In the coming fiscal year, the government will make a net borrowing of Sh937.6 billion to fill the budget deficit, which is equivalent to 7.5 percent of GDP.
This will be made up of Sh592.2 billion in net domestic borrowing and Sh345.5 billion from external lenders.
Kenya’s interest payments on public debt will go up by Sh113.5 billion in the next fiscal year compared to the current one