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Kenya’s Debt Increases As Shilling Loses Value

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Kenya has continued to increase its external debts from early 2000s up to the end of 2016.
According to a report released by the British American Investment company, the country has continued to borrow from external markets at interest rates of 67% between the year 2010 to 2016 while the Kenyan shilling has continued to depreciate by less than 5% in the same period.
The company has said that despite the continued depreciation at 24% total from early 2000s, kenya is still doing well compared to other african countries.
Brian Chege, senior investment analyst at Britam said the company is expecting thst the kenyan shilling will remain more pronounced in the market in 2017
The company also said that develution has also improved economic development in the country in terms of infrastructure.
James Mose of Britam kenya Kenya is exporting at 21.7% to the African Union, 21.7% to America and 22% to Asia which has aided in the boost to economic growth.
Britam however says that t5he economy will continue to depend on government expenditure in 2017 because most businesses tend to adopt a ‘wait and see’ policy in the election y7ears.

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