NAIROBI (Xinhua) --
Kenya surpassed its domestic borrowing target by
250 million U.S. dollars in the period ending June as the
government sought more funds for budgetary support.
east African nation borrowed 2.73 billion dollars in the fiscal
year ending to June, exceeding a target of 2.48 billion dollars,
said the National Treasury in a debt bulletin Tuesday.
Commercial banks, which hold the bulk of the domestic debt,
contributed 1.24 billion dollars of the money borrowed during
the period while non-banking financial institutions and
foreigners offered the rest.
The government is also currently 47 percent ahead of its
borrowing target for the current financial year, having borrowed
690 million dollars against a target of 466 million dollars.