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Kenya increases domestic borrowing target by Sh50bn
National Treasury and Economic Planning Cabinet Secretary Njuguna Ndung’u and his Treasury Principal Secretary Chris Kiptoo pose for a photo with a briefcase containing the 2023/2024 budget statement before proceeding to Parliament on June 15, 2023. PHOTO | LUCY WANJIRU | NMG
The Treasury has raised the domestic borrowing target for the current financial year by Sh50 billion, backpedalling on a previous cut effected in the first mini-budget released by the Kenya Kwanza administration.
The latest Estimates of Revenue, Grants and Loans for the financial year 2023/24 show the Treasury now targets Sh475.0 billion from the domestic market in the current financial year, up from the Sh425.1 billion prescribed in the Supplementary Budget I tabled earlier in the year.
