The Treasury plans to reduce spending by about Sh100 billion in the new fiscal year starting on July 1, an indication of deeper austerity measures for ministries, departments and state agencies, which have already been slapped with restrictions on non-essential expenditure.
Newly-confirmed Treasury Cabinet Secretary Ukur Yatani Tuesday said there was no room for budget deficits, which have lately been estimated at Sh600 billion -- fuelled by the State’s borrowing to finance development amid unmet revenue targets.
