Kenya will raise its borrowing from the domestic market for the fiscal year from July to 294.6 billion shillings ($2.91 billion) from its initial target of 236. 1 billion shillings, the Treasury said.
The new amount will be equivalent to 4.1 percent of the gross domestic product, from 3.3 percent in the initial forecasts, the Treasury said in a budget review document posted on its website.
The overall fiscal deficit, which was projected at 9.7 percent of GDP, would fall to 8.1 percent, while net foreign financing would be halved to 287.6 billion shillings.
The ministry of finance attributed the revisions to "base effect on revenue forecast and macroeconomic assumptions".
