From Kenya Broadcasting Corporation 

Kenya’s public debt increased by 270.7 billion shillings to 1.8 trillion shillings ($20,856,600,000) in the fiscal year to June 2013 up from the 1.6 trillion shillings the previous year.

According to the Central Bank of Kenya 2013 annual report, this increase is largely attributed to an increase in domestic debt which grew by 191.8 billion shillings as well as government expenditure which rose by 185 billion shillings in the period under review.

This represents an increase from 49.3% of GDP as at 3oth June 2012 to 51.7% as at 30th June 2013. This increase is attributed largely to the increase in domestic debt which increased by 191.8 billion shillings during the fiscal year 2012/2013 up from 858.8 billion shillings in June 2012 to 1.05 trillion shillings in June 2013.

Central Bank also indicates that government expenditure and net lending increased by 185 billion shillings.

The government’s expenditure, according to CBK, increased as a result of increased costs associated with the implementation of the devolved governments as well as higher salaries awarded to civil servants.

Kenya’s external debt rose by 10.3% from 764.5 billion shillings as at June 2012 to 843.6 billion shillings as at June last year due to increased bilateral debt stock attributed to disbursements from China and France meant for financing infrastructural projects.

Read more at Kenya Broadcasting Corporation