This archive report was first published on 21 September 2019.
Published on September 21, 2019, a draft Treasury budget review revealed that Kenya's government is taking steps to cut excessive spending and reduce its gaping fiscal deficit. This move aims to curb the country's rising borrowing, which has been a major concern since President Uhuru Kenyatta's government took power in 2013.
The government's total public debt has increased to 55% of the country's GDP, up from 42% when President Kenyatta took office. Critics have accused the government of burdening future generations with too much debt.
According to the draft budget review, the finance ministry plans to cut the government's spending for the 2019/20 fiscal year by 2.1%, equivalent to Sh46.2 billion. This move is seen as a step towards reducing the country's fiscal deficit and curbing borrowing.
Related topics: Budget, Treasury, Debt, Fiscal Deficit
