Kenya’s National Treasury says the country will cut its 2019/20 budget deficit beginning July-June to 5.6% of GDP from 7.4 % in the fiscal year according to it’s Cabinet Secretary Henry Rotich in his budget proposals to the National Assembly and the Senate on Thursday.
“In relation to GDP this deficit represents 5.6% a decline from 6.8% in this financial year and 7.4% in the last financial year,”
According to Rotich, this will be financed by net external financing of Ksh 324 billion and net domestic financing of Ksh 283.5 billion.
