The budget was ambitious because it has risen from last year’s Sh2.2 trillion to Sh2.3 trillion and wishful because Kenya Revenue Authority (KRA) failed to meet last year’s collection target. And as expected, the budget was both ambitious and wishful. Yet, KRA is projected to raise Sh1.37 trillion from tax collections, Sh124.2 billion from appropriations in aid and Sh72.6 billion from grants. The financing gap will be plugged by borrowing Sh229.6 billion locally and Sh459.4 billion internationally. Updated Sat, June 11th 2016 at 00:00 GMT +3Unpredictably Henry Rotich, Finance Cabinet Secretary, read the Sh2.3 trillion budget on Wednesday, a day earlier than expected, so as to be in line with his counterparts in Uganda, Tanzania, Rwanda and Burundi.

Source: Standard Digital June 10, 2016 20:37 UTC