Cbk Data News Today

Diaspora remittances amounted to $412.41 million in January, official data shows, the highest levels on record.

The rising returns on deposits have come in the period that returns on Treasury bills and bonds have also been rising.

The Treasury estimates that the total debt service costs for the current financial year will increase to a record $10.8 billion.

The deficit fell to $6.8 billion from nearly $7.51 billion a year ago, provisional official data showed.

The forex crisis in the country hit the ceiling in March as commercial banks began to run out of hard currency.

The food production increase has been attributed to sufficient rains witnessed this year.

Horticulture is one of the leading export earners for Kenya and generated $1.03 billion in earnings in 2022.

A widening import-export gap piles some pressure on the shilling as the demand for dollars outstrips the supply.

Deposits (central government and other public sector) consisted of $2.22 billion and $776.55 million in demand deposits and time savings respectively.

Inquiries for borrowers’ profiles from CRBs hit a record 39.8 million last year as lenders intensified scrutiny to reduce the mounting loan defaults.