The cumulative amount of interest the government paid on its domestic debt rose by a fifth in the six months of the 2023/2024 fiscal year, compared to the corresponding period of the previous year, highlighting the effect of the high yields of its securities.
The National Treasury’s latest quarterly economic and budgetary review report shows that the government spent Sh300.1 billion on domestic interest charges in the six months to December, up from Sh251.6 billion in a similar period in 2022—marking a Sh48.5 billion jump.
