Kenya Cuts Tax Collection Target by 1%, Nine-Month Revenue Up 9%

Projected tax income for the fiscal year ending June lowered to 2.6 trillion shillings, Treasury Secretary John Mbadi says in a government gazette notice.

• Tax collections of 1.7 trillion shillings in the first nine months are about two-thirds of the revised goal
• Kenya spent 1.36 trillion shillings, or 79% of tax income, to service public debt during the period
• Foreign loans and grants received amount to 533.4 billion shillings, compared with 694.3 billion shilling full-year target
• Gross domestic borrowing seen higher at 1.67 trillion shillings vs earlier target of 1.098 trillion shillings
  • That includes net domestic borrowing of 1.13 ...