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Prime
Rotich in spending cuts to ease debts
Treasury building in Nairobi. Kenya plans to cut spending to lower its budget deficit to internationally acceptable levels in the next five years, the Treasury has said. FILE PHOTO | NMG
Kenya plans to cut spending to lower its budget deficit to internationally acceptable levels in the next five years, the Treasury has said in a budget document, after investors criticised the fiscal gap.
The deficit grew to 8.9 per cent of gross domestic product (GDP) in the financial year to last June. The Ministry of Finance said it would be reduced to six per cent in the financial year from next July and to three per cent by 2022.
