The Kenyan government announced September 19 it will reduce its 2019-20 budget spending by KSh46.2 billion, or about $445 million, due to revenue collection shortfalls.
This announcement comes a few days after Acting Finance Minister Ukur Yatani announced strict cuts in spending on foreign travel by public servants and advertising by ministries.
These new budget cuts represent 2.1% of previous expenditures. In total, government spending is estimated at $27.3 billion (26.3% of GDP) while revenues are projected at $19.9 billion (19.2% of GDP). Authorities estimate the value of currently suspended development projects such as roads and dams at nearly $3.6 billion, due to a lack of government funding.
Last July, the country’s legal court announced the arrest of Henry Rotich, the country's former Finance Minister which was heavily criticized for increasing public spending last June and for introducing additional taxes to fund spending.
Moutiou Adjibi Nourou
Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
TY Logistics Park opens Lagos facility with 40,000-pallet capacity to modernize supply chains Site offers broad logistics services near Lekki...
Suez Canal forecasts $8 billion revenue in 2025/26 as traffic recovers Ship numbers, tonnage, and revenue rise amid easing Red Sea...
A long-term investment drive, new industrial projects and tighter oversight of artisanal output are reshaping the country’s ambitions in one of the...
(FRENCH-AFRICAN FOUNDATION) - Story School, the communication school of Mohammed VI Polytechnic University (UM6P), in collaboration with the...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...