Kenya's 🇰🇪 debt level has hit record highs despite President William Ruto's vow to tame the country's appetite for loans, treasury 💰 figures show.

Total public debt rose by a record 1.56 trillion shillings ($10.8 billion) in the financial year ended June 30 to 10.1 trillion shillings ($70.75 billion), breaching a debt ceiling of 10 trillion shillings, according to the data released Tuesday.

"The increase in the public debt is attributed to external loan disbursements, exchange rate fluctuations and the uptake of domestic and external debt," the treasury said.