×
App Icon
The Standard e-Paper
Read Offline Anywhere
★★★★ - on Play Store
Download Now

Treasury to cut borrowing, spending on shortfall in revenue collection

Vocalize Pre-Player Loader

Audio By Vocalize

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
Kenya Pipeline Company IPO extended by three working days
Enterprise
When fundamentals are stable but the patient is terrified
Business
CMA extends Kenya Pipeline Company IPO deadline to February 24
Enterprise
Why services sector offers best bet for jobs, economic development