Debt costs fall Sh231.5bn on cheaper loans

The Treasury has attributed Sh231.54 billion in savings on debt repayments budget to a slower-than-projected depreciation of the shilling and increased tapping of concessional external loans amidst reduced domestic borrowing.

The William Ruto administration spent Sh1.16 trillion on servicing debt owed to foreign and domestic creditors in the financial year ended June, official data shows, 16.62 percent lower than what had been budgeted by the predecessor regime.