Kenya’s Debt-Servicing Costs Edge Higher Amid Street Protests and Heightened Uncertainty

Source: National Treasury, Controller of Budget Note: Chart shows data for fiscal years ending June 30.

Kenya spent 59% of all the money it collects in taxes to service the country’s ballooning debt, a slight increase from the previous fiscal year.

The news adds further pressure on President William Ruto, who slashed subsidies and increased taxes in part to pay the debt. These moves triggered days of deadly street protests in the capital Nairobi.

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by Eric Olander

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