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Last-minute debt review opens Sh39bn hole in Kenya’s budget
Central Bank of Kenya Governor Kamau Thugge before the Departmental Committee on Finance and National Planning at County Hall on May 30, 2023. PHOTO | DENNIS ONSONGO | NMG
The Treasury has fallen short of its domestic borrowing target for the fiscal year ending June 30 by Sh39 billion, following the last-minute upward revision that was expected to raise funds to settle pending fuel subsidy bills.
The Central Bank of Kenya (CBK), which is the government’s fiscal agent, said on Tuesday that it had mobilised a net of Sh436 billion for the current year.
