Breaking news!Ruto to Slash National Budget by Ksh300 Billion
President William Ruto has instructed Treasury to reduce his predecessor Uhuru Kenyatta’s last budget by Ksh300 Billion.
While addressing joint Parliament on Thursday, September 29, Ruto added that the Treasury had been instructed to work with various ministries to cut down on unnecessary things that were budgeted for.
He explained that the budget was too huge and forced the government to borrow from other financial institutions adding that it was unsustainable.
“Over the next three years, we must go back to the situation where the government contributes to the national saving scheme.
“To this end, I have instructed the Treasury to work with ministries to find at least Ksh300 billion in this year’s budget because the market cannot sustain the kind of borrowing we are doing as a government,” he announced.
Uhuru’s last budget read by outgoing Treasury CS Ukur Yatani was projected at Ksh3.3 trillion.
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