Government to lower fiscal deficit to 5.6 per cent in 2019/20 financial year

Kenya will cut its budget deficit to 5.6 percent of GDP in its 2019/20 (July-June) fiscal year from a revised 6.1 percent of GDP in this fiscal year, the Treasury said in a draft budget summary sent to parliament this week.

The East African nation will borrow Sh 324.3 billion ($3.21 billion), equivalent to 3.0 percent of GDP, from abroad during the fiscal year and Sh289.2 billion, or 2.7 percent of GDP from the local market, the document showed.

 

Business
Premium Burdened Kenyans walk into Easter weekend broke
Business
Premium Looming crisis as top lenders stare at Sh500b in bad loans
Business
Premium Water PS Korir put on the spot over Sh14m dam land
Business
Premium Ruto's food security hopes facing storm amid fake fertiliser scam