Treasury slashes revenue target while increasing debt portfolio

Treasury CS Henry Rotich. Revenue collection targets this fiscal year reduces while the debt portfolio rises. [Photo: Standard]

Revenue collection targets for 2018/2019 financial year has been slashed by Sh96 billion from Sh1.949 trillion to Sh1.853 trillion as reported by Treasury Cabinet Secretary Henry Rotich when he appeared in parliament on Wednesday.

The cut will affect revenue raised through 2021/2022 financial year due to the amendments that were made on revenue collection over the recently enacted Finance Bill 2018.