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"content": "The 2023 MTDS aims to provide a financing strategy that will minimise the costs and risks of public debt. In choosing the appropriate strategy, the 2023 MTDS considered four alternative strategies to finance the fiscal deficit for the Financial Year 2023/2024, and ultimately proposed a balanced domestic external financing strategy ratio of 50 per cent to 50 per cent for net domestic borrowing and net external borrowing, respectively. This proposed borrowing strategy is based on assumptions such as: 1. GDP growth projection of 6.1 per cent. 2. Exchange rate depreciation of the Kenya Shilling to the US Dollar by an average of 1.6 per cent annually. 3. Access borrowing on concessional and semi-concessional terms. 4. Fiscal consolidation efforts targeting to reduce the fiscal deficit to 3.6 per cent of GDP by Financial Year 2026/2027."
}