This archive report was first published on 11 June 2020.
On June 11, 2020, Treasury Secretary Ukur Yatani presented a Sh3.239 trillion budget, a 21 percent increase from the current financial year's budget.
The projected revenue from the Kenya Revenue Authority (KRA) is expected at Sh1.621 trillion, leaving another Sh1.6 trillion to be raised through borrowing in internal State revenues like fees and fines.
According to Genghis Capital head of research Churchil Ogutu, the Treasury will borrow about Sh1.335 trillion in the next financial year to finance the shortfall and also cover the maturing debt.
“Although revenue has been slashed, there is concern around revenue realism amidst the Covid-19 shock which will negatively affect revenue streams,” Ogutu said.
