Tax collections remained the backbone of State revenue, contributing Sh1.72 trillion, or about 54 percent of total inflows. This also reflected an increase of Sh138.2 billion from the previous year.
By Maureen KinyanjuiThe bank also noted that international oil prices have softened due to increased production and weaker global demand, though volatility persists amid ongoing uncertainties.
By Maureen KinyanjuiAccording to the latest data from the National Treasury, net borrowing from domestic sources reached Sh339.7 billion, while external lenders contributed Sh98.1 billion. This represents nearly half (48.6%) of the annual borrowing target of Sh901 billion, which is set at Sh613.5 billion for local markets and Sh287.4 billion from external sources.
By Maureen KinyanjuiData indicates that net domestic borrowing hit Sh854.5 billion, against the original target of Sh263.2 billion, as authorities leaned heavily on local lenders to fill the financing gap.
By Maureen KinyanjuiThis figure is up by Sh94.2 billion from the Sh995.76 billion set aside for debt repayments in the current financial year.
By Maureen KinyanjuiThe group criticised the government’s focus on increasing tax revenue without addressing wastage, duplication, and misplaced spending priorities.
By Maureen Kinyanjui