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The depreciating value of the Kenya shilling against the US dollar has caused an increase in debt stock and debt repayments in terms of local currency.
Controller of Budget Margaret Nyakang'o, in the National Government Budget Implementation Review Report for the Financial Year 2022/23, said public debt stock recorded 18.8 percent growth from Sh8.63 trillion reported on June 30, 2022, to Sh10.25 trillion as of June 30, 2023.
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