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KRA collects Sh465 billion in first quarter of current financial year
Times Tower in Nairobi, the headquarters of the Kenya Revenue Authority (KRA).
The government received Sh680.7 billion total revenues in the three months to September 30, with taxes constituting nearly 70 percent of the revenues.
Latest details from the National Treasury show the Kenya Revenue Authority (KRA) collected a total of Sh465 billion between July and September, reflecting an average of Sh155 billion monthly collections.
KRA targets to collect a total of Sh2.07 trillion in the current financial year, and the Sh465 billion is 22.5 percent of the annual tax revenue estimates.
During the three months, when the country was heavy in campaigns ahead of the August 9 elections, the government borrowed a total of Sh182 billion, the National Treasury states.
The government borrowed heavily from the domestic market where it sourced Sh95.7 billion, while external creditors extended Sh86.2 billion to the government.
While Sh182 billion was borrowed, the government issued Sh237 billion to the Consolidated Fund Services (CFS) for use in debt repayment. This reflects an average Sh79 billion monthly issuance to the account, for public debt service.
Treasury also reported that Sh20 billion in non-tax revenue and Sh13.4 billion categorized as other domestic financing was received at the exchequer.
Treasury released a total of Sh276 billion to fund recurrent expenditures in the national government, while Sh68 billion was released to fund development activities across all Ministries Departments and Agencies (MDAs).
Of the Sh370 billion county governments expect in equitable share from the national government, Treasury released Sh70.3 billion, which translates to 19 per cent of the annual budget.
By September 30, total cash released from Treasury to both counties and MDAs was Sh679.3 billion, leaving the exchequer with a balance of Sh2 billion.
