National Treasury is set to raise commercial financing from foreign sources to Sh288 billion in the next fiscal year, Sh38 billion more than in the current Budget, as total spending rises.
However, the plan is to drastically reduce the amount borrowed commercially from external sources to just Sh50 billion in the next two fiscal years. This is part of a plan to gradually cut the budget deficit that had gone beyond 8.9 per cent in 2016/17.
