Mbadi says development budget reduced from Sh715b to Sh583b

National Treasury Cabinet Secretary John Mbadi addresses a past function. [File, Standard]

The National Treasury Cabinet Secretary John Mbadi has said the development budget for the Financial Year 2022/23 was Sh715.4 billion out of which Sh389.2 billion was to be funded through ordinary revenue, Sh292.8 loans and Sh33.3 billion grants.

Mbadi who appeared before the Senate plenary to answer questions said the original approved development budget estimates were however revised to Sh583.2 billion which comprised Sh357.9 billion funded through ordinary revenue, Sh190.5 billion loans and Sh34.7 billion grants.