The Kenya Revenue Authority’s (KRA) tax collection for October was up 8.5 per cent to Ksh 142.8 billion from Ksh 131.6 billion at a similar period last fiscal year.
According to the National Treasury and Planning Statement of Actual Revenues and Net Exchequer Issues as at 31, 2022, cumulative tax revenues across four months of the 2022–23 fiscal year are now at Ksh 607.9 billion.
Non-tax revenues totalled Ksh 27.8 billion after growing by Ksh.7.6 billion in October.
The revenue and net expenditures for the first quarter of FY’2022/2023, ending September 30, 2022, amounted to Kshs 486.0 billion, equivalent to 22.7% of the original estimates of Kshs 2,141.6 billion for FY’2022/2023, and are 90.8% of the prorated estimates of Kshs 535.4 billion.
Cumulatively, tax revenues amounted to Kshs 465.2 billion, equivalent to 22.5% of the original estimates of Kshs 2,071.9 billion and 89.8% of the prorated estimates of Kshs 518.0 billion.
| FY’2022/2023 Budget Outturn – As at 30th September 2022 | |||||
| Amounts in Kshs billions unless stated otherwise | |||||
| Item | 12-months Original Estimates | Actual Receipts/Release | Percentage Achieved | Prorated | % achieved of prorated |
| Opening Balance | 0.6 | ||||
| Tax Revenue | 2,071.9 | 465.2 | 22.5% | 518.0 | 89.8% |
| Non-Tax Revenue | 69.7 | 20.2 | 29.0% | 17.4 | 116.0% |
| Total Revenue | 2,141.6 | 486.0 | 22.7% | 535.4 | 90.8% |
| External Loans & Grants | 349.3 | 86.2 | 24.7% | 87.3 | 98.7% |
| Domestic Borrowings | 1,040.5 | 95.7 | 9.2% | 260.1 | 36.8% |
| Other Domestic Financing | 13.2 | 13.4 | 101.5% | 3.3 | 405.9% |
| Total Financing | 1,403.0 | 195.3 | 13.9% | 350.8 | 55.7% |
| Recurrent Exchequer issues | 1,178.4 | 276.1 | 23.4% | 294.6 | 93.7% |
| CFS Exchequer Issues | 1,571.8 | 264.8 | 16.8% | 393.0 | 67.4% |
| Development Expenditure & Net Lending | 424.4 | 68.1 | 16.0% | 106.1 | 64.1% |
| County Governments + Contingencies | 370.0 | 70.3 | 19.0% | 92.5 | 76.0% |
| Total Expenditure | 3,544.6 | 679.3 | 19.2% | 886.2 | 76.7% |
| Fiscal Deficit excluding Grants | 1,403.0 | 193.3 | 13.8% | 350.8 | 55.1% |
| Total Borrowing | 1,389.8 | 181.9 | 13.1% | 347.4 | 52.3% |
“The revenue performance for the third month of the FY’2022/2023 reflects the economic uncertainties that emanated from the elevated inflationary pressures. The slowdown in the economic environment is expected to persist in the short term as consumers continue to cut on spending,” said Cytonn in a weekly update.
