Kenya’s Revenue Expenditure In First 8 Months Of 2021/2022

Total revenue collected as of the end of February 2022 amounted to 1,192.8 billion shillings, equivalent to 67.2 percent of…

 Kenya’s Revenue Expenditure In First 8 Months Of 2021/2022

Total revenue collected as of the end of February 2022 amounted to 1,192.8 billion shillings, equivalent to 67.2 percent of the original estimates of 1,775.6 billion shillings and is 100.8 percent of the prorated estimates of 1,183.8 billion shillings.

Notably, the performance is a decline from the 103.8 percent outperformance recorded in the first seven months to January 2021, mainly attributable to a 26.9 percent decline in the monthly revenue collection to 117.6 billion shillings in February 2022.

Cumulatively, tax revenues amounted to 1,126.4 billion shillings, equivalent to 66.0 percent of the original estimates of 1,707.4 billion shillings and 99.0 percent of the prorated estimates of 1,138.3 billion shillings.

Total financing amounted to 686.6 billion shillings, equivalent to 48.4 percent of the original estimates of 1,417.4 billion shillings, and is equivalent to 72.7 percent of the prorated estimates of 944.9 billion shillings.

Additionally, domestic borrowing amounted to 631.1 billion shillings, equivalent to 62.6 percent of the original estimates of 1,008.4 billion shillings and is 93.9 percent of the prorated estimates of 672.3 billion shillings.

The total expenditure amounted to 1.845.7 billion shillings, equivalent to 56.5 percent of the original estimates of 3,193.0 billion shillings, and is 84.7 percent of the prorated expenditure estimates of 2,128.7 billion shillings.

Additionally, the net disbursements to recurrent expenditures came in at 709.3 billion shillings, equivalent to 64.1 percent of the original estimates and 96.2 percent of the prorated estimates of 737.7 billion shillings, and development expenditure amounted to 191.8 billion shillings, equivalent to 49.3 percent of the original estimates of 389.2 billion shillings and is 73.9 percent of the prorated estimates of 259.5 billion shillings.

Consolidated Fund Services (CFS) Exchequer issues lagged behind their targets of 1,327.2 billion shillings after amounting to 750.9 billion shillings, equivalent to 56.6 percent of the original estimates, and are 84.9 percent of the prorated amount of 884.8 billion shillings.

The cumulative public debt servicing cost amounted to 667.2 billion shillings which are 57.1 percent of the original estimates of 1,169.2 billion shillings and is 85.6 percent of the prorated estimates of 779.4 billion shillings.

Total Borrowings as of the end of February 2022 amounted to 681.1 billion shillings equivalent to 49.1 percent of the original estimates of 1,388.1 billion shillings and are 73.6 percent of the prorated estimates of 925.4 billion shillings. The cumulative domestic borrowing target of 1.0 trillion shillings comprises adjusted Net domestic borrowings of 661.6 billion shillings and Internal Debt Redemptions (Roll-overs) of 346.8 billion shillings.

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