*As per the Exchequer Releases for April 2025* Borrowing targets have been revised upwards significantly in the second supplementary budget which will lead to continued accumulation of debt. Since the fiscal deficit target for FY 2024/25 increased (more spending even with expected revenue shortfall), the domestic and external borrowing had to be revised upwards. Both are targeted to increase by 41 percent and 26 percent respectively, compared to the original estimates. The government will now rely heavily on overdrafts from the Central Bank of Kenya, known as "other domestic financing" in government documents (and known usually as debt monetization). The new target for other domestic financing is Ksh 8.5 billion, reflecting an 81 percent growth from the original target of Ksh 4.7 billion. Source: https://ipfglobal.or.ke/wp-content/uploads/2025/06/GoK-Exchequer-releases-April-2025-infographic-by-IPF.pdf