×
App Icon
The Standard e-Paper
Join Thousands of Readers
★★★★ - on Play Store
Download Now

Treasury to cut borrowing, spending on shortfall in revenue collection

Treasury Cabinet Secretary Njuguna Ndung'u during a previous press conference at Norfolk Fairmount, in Nairobi. [Edward Kiplimo, Standard]

The government has further revised downwards the amount it plans to borrow over the next financial year citing an expected shortfall in tax revenues that the National Treasury said has necessitated the need to contain borrowing and government spending.

Treasury said it will borrow Sh541.7 billion from both domestic and foreign lenders over the 2024-25 financial year.

Get Full Access for Ksh299/Week
Uncover the stories others won’t tell. Subscribe now for exclusive access
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in
Business
Factories review the green leaf payment following farmers demand
Business
Global hotels bet big on Maasai Mara as tourism earnings surge
By Sofia Ali 7 hrs ago
Business
Government steps up push for local manufacturing
Shipping & Logistics
Confusion over seafarer IDs exposes gaps in maritime governance