Parliament asks Treasury to cut domestic borrowing

The National Treasury building, Nairobi. [Elvis Ogina, Standard]

Parliament has asked the National Treasury to reduce its domestic borrowing target in the 2021-22 financial year by Sh193 billion, setting the stage for the government to head to the international debt markets.

A report by the National Assembly Budget and Appropriations Committee further asks the government to reduce the stock of Treasury bills by Sh200 billion and retire its overdraft facility at the end of each financial year.