The fiscal deficit is likely to come in below the Treasury estimate of 6.3 percent by the end of the financial year if the poor absorption of expenditure continues, an investment bank has said.
Genghis Capital analyst Churchill Ogutu said in a note on public debt that with absorption of both recurrent and development expenditure below 50 percent at the halfway mark of the fiscal year, the effect of subpar revenue performance will likely be muted.
