The government increased its borrowing target for the fiscal year starting July to Sh597 billion just hours before the Treasury Cabinet Secretary Njuguna Ndung’u reads his Budget speech.
This was an increase of Sh82.3 billion from a deficit of Sh514.7 billion that Prof Ndung'u had earlier tabled in the National Assembly, an indicator that the tax collection target would equally be reduced downwards. If the tax collection target is not reduced, the spending target of Sh2.95 trillion will be pushed up.
