Government to cut domestic borrowing by half, says Uhuru

Kenya could cut domestic borrowing by half this financial year to boost the private sector and grow the economy, President Uhuru Kenyatta has said. The Treasury would likely borrow around Sh100 billion in the 2014/2015 financial year, from the Sh190 billion range the year before, he told international media in an interview at State House, Nairobi, before travelling to Washington DC for the US-Africa Leaders Summit. “Our objective is to reduce our initial intended borrowing - which is about Sh190 billion - and see if we can reduce our exposure in the domestic market to about Sh100 billion,”...