[Jonah Onyango, Standard]The government will borrow close to Sh1 trillion from local investors in the next 12 months to fund its expansive Sh3.66 trillion budget. It will also need to repay domestic loans maturing during this period. Former President Mwai Kibaki changed this by offering local investors even less than one per cent in his second year of presidency. It is mostly local investors who get paid the money which will then be re-invested here. If the government meets the revenue-collection target, there will be little, if any, need for borrowing locally.

Source: Standard Digital June 13, 2021 05:35 UTC