Public Management

Kenya cuts budget spending by $445 mln for FY2019-20

Kenya cuts budget spending by $445 mln for FY2019-20
Friday, 20 September 2019 14:30

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

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Proparco invests in Kenyan electric bus startup BasiGo to boost expansion BasiGo targets 1,000 electric buses, wider charging network across...
Facility targets decarbonization of carbon-intensive firms via structured financing Initiative supports South Africa’s coal phase-out and...
The Treasury seeks BEAC support to improve issuance and management of public securities. Training focuses on DEPO/X, market analysis, and better...
Guinea issued a 1,500 billion GNF ($172.6 million) five-year bond with an annual interest rate of 11%. The government targets reduced reliance on...
Most Read
01

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
02

(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...

MCB deploys strategic financing to Invictus Investment to scale up its agro-food operations in Africa
03

S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...

S&P Raises Zambia’s Foreign-Currency Rating to CCC+
04

MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...

Africa HealthTech Bootcamp Opens in Benin With Focus on Regulation and Startup Growth
05

Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims ...

Chad Reports Second Vandalism Attack on Key Internet Cable in Two Weeks
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.