The government has missed its revenue collection target as of the end of April 2023, National Treasury Cabinet Secretary Njuguna Ndung’u has revealed.
Appearing before the Budget and Appropriations Committee, the CS said total revenue collected by the end of April including Appropriations-In-Aid amounted to Sh1.894 trillion against a target of Sh2.01 trillion resulting in a shortfall of Sh124.8 billion.
“This shortfall was mainly attributed to under collection of ordinary revenues by Sh144.9 billion and over performance in ministerial A-I-A by Sh20.1 billion,” he stated.
He noted that ordinary revenue collected amounted to Sh1.63 trillion against a target of S1.78 trillion.
“The total expenditure and net lending for the period amounted to Sh2.3 trillion against a target of Sh2.63 trillion translating to a shortfall of Sh333.9 billion,” he said.
Ndung’u said disbursement to county governments was Sh275.7 billion against a target of Sh316.6 billion thus recording a shortfall of Sh40.9 billion.
“Taking into account total revenues and expenditures, the overall fiscal deficit including grants for the period ending April 2023 was Sh362.3 billion which was financed through Net Foreign Financing of Sh981.1 billion and Net Domestic Financing of Sh264.2 billion,” the CS added.
He said the policies to be implemented in the next financial year will aim to provide an enabling environment critical for accelerating economic recovery and improving livelihoods.
