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
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Project targets up to 1 million tons of output using solar and wind Initial investment estimated at $5 billion, with expansion potential Plan...
Ghana rolls out Publican AI at Tema Port, with early revenue rising from GH₵2.4bn to GH₵3.6bn after deployment System flags undervaluation and fraud...
Rice is deeply rooted in diets but demand now far outpaces local supply Production has increased across the region, yet value chains remain...
Government launches plans to improve data use and public services Strategy aims to support responsible use of artificial intelligence Move...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....