[Edward Kiplimo, Standard]The National Treasury has borrowed over Sh1 trillion in a single financial year, which experts say is likely to hurt ordinary Kenyans if it continues. Since March last year when the country recorded its first case of Covid-19, the government has borrowed Sh1.43 trillion. The remaining Sh3.7 trillion is domestic, which the government gets largely by issuing Treasury bills, short-term government debt, and the longer-term Treasury bonds. [Edward Kiplimo, Standard]President Uhuru Kenyatta’s government has now borrowed Sh5.82 trillion in eight years since 2013. [Edward Kiplimo, Standard]Meanwhile, the target for Kenya Revenue Authority (KRA) was reduced to Sh1.594 trillion from the original Sh1.633 trillion.

Source: Standard Digital July 17, 2021 22:48 UTC