Kenya Trims Tax Collection Target, Ramps Up Borrowing Plans

Kenya cut its tax revenue target for a second time and raised borrowing forecasts in the wake of protests that brought the economy to a near-standstill.

The East African nation is now targeting collections of 2.4 trillion shillings ($18.5 billion) for the fiscal year through June, Treasury Secretary John Mbadi said in a Thursday government notice. That’s 3% below a revised target of 2.475 trillion shillings. Tax collections in the first nine months have covered about 66% of the revised target.

Deadly protests that left at least 60 people killed last year had forced President William Ruto to drop ...