Kenya Half-Year Tax Income Grows 2.2% y/y After Popular Protests

Tax income in the six months through Dec. 31 increased to 1.07 trillion shillings, Treasury Secretary John Mbadi says in a gazette notice.

• That’s 43% of the Treasury’s full-year revised target of 2.475 trillion shillings for 2024-25 fiscal year
• Treasury spent 61% of taxes collected, or 653.5 billion shillings, on repaying debt
• Gross domestic borrowing was 477.17 billion shillings in the half-year period
  • NOTE: Full-year local borrowing target is 978.3 billion shillings, comprising net domestic borrowing at 408.4 billion shillings and debt redemptions/rollovers of 569.89 billion shillings
• External loans and grants taken amount to 92.8 billion shillings against target of ...