Kenya to Lower 2019/20 Financial Year Budget Deficit to 5.6% of GDP from 7.4%

Kenya Raises KSh210 Billion in New Eurobond to Pay Debt

National Treasury CS, Henry Rotich

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.