keen will issue 31.5 billion shillings worth of infrastructure bonds in its fiscal year beginning next month, a senior Treasury official said on Thursday. Finance Minister Uhuru Kenyatta increased the deficit as a percentage of GDP to 6.8 percent from 6.6 percent, to fund a range of increased spending in key areas like roads, during his budget speech last week.

The planned 105.2 billion shillings of borrowing for this year is below this year's total borrowing of 126 billion shillings. The government had initially planned to borrow 109 billion shilling for the 2009/10 year but was forced to borrow more by emergencies like drought.

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Posted by mopeng at June 17, 2010 10:38 AM