The Central Bank of Kenya’s move to fast-track borrowing from the domestic debt in the first half of the fiscal year is likely to minimise pressure on interest rates despite the Sh272.4 billion increase in the full-year borrowing target in the upcoming supplementary budget.
Analysts at NCBA Investment Bank estimate that the government had achieved 114 percent of its prorated gross domestic borrowing target by the end of January, meaning that it has already covered part of the expanded funding before the supplementary budget is passed.
