The National Treasury is cutting its expected net borrowing for the current fiscal year by Sh67.5 billion, a move that is expected to boost efforts by the Central Bank of Kenya (CBK) to bring down interest rates.
Budget documents tabled by the Treasury on Tuesday show a revision of net domestic borrowing for the 2023/2024 fiscal year to Sh407 billion from Sh474.5 billion, while the expected borrowing from external lenders has been revised upwards to Sh501.6 billion from Sh412.1 billion.
